Tuesday 21 May 2019

Tech firm takes on Revenue in €43m tax fight

Revenue (stock image)
Revenue (stock image)

Dara Doyle and Peter Flanagan

US computer-chip maker Analog Devices, a major employer across Limerick and Cork, is fighting Revenue over a €43m tax bill.

Analog is resisting Revenue's demand for the sum, which the tax collector says is owed from transactions stretching as far back as 2013.

The American company has told shareholders that it will "vigorously defend" its position and is appealing the decision.

It said that if it loses the case, there could be a "material unfavourable impact" on its bottom line.

The €43m figure does not include any penalties or interest Analog may have to pay if it loses.

Both Analog and Revenue declined to comment.

Established in Ireland in 1977, Analog employs about 1,200 people at its original and main hub in Limerick, in addition to its design facility in Cork.

Cork is also a base for the Irish operation of Apple, which is fighting a European Commission order to pay €13bn in tax to Ireland over what the Commission said was a special tax deal.

Irish Independent

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