Michael Noonan, Ireland’s finance minister, proposed today that, beginning January 1, 2015, all companies registered in Ireland would constitute tax residents of Ireland as well.  He indicated that there would be a transition period for companies currently registered in Ireland until the end of 2020.  He stated that the proposed change was meant to eliminate use of the tax minimization strategy known as the “Double Irish.”  Noonan cited the heavy scrutiny of such strategies by the OECD through the BEPS project as motivation for the proposed change.

The financial statement by Ireland’s Minister of Finance can be found here.