Could you tell me their profits in France, Germany, Spain, Italy and then compare it to their profit in Ireland? The point here is not that they make no profit. It's that the Irish subsidiary charges the French, German, Spanish and Italian subsidiaries a "license" fee equal to the profit that each of them makes. So all of these subsidiaries make 0 profit, the Irish subsidiary makes a fat profit. But the kicker is that in Ireland their effective tax rate is nearly 0. So they pay no tax on all their European profits.
Could you tell me their profits in France, Germany, Spain, Italy and then compare it to their profit in Ireland? The point here is not that they make no profit. It's that the Irish subsidiary charges the French, German, Spanish and Italian subsidiaries a "license" fee equal to the profit that each of them makes. So all of these subsidiaries make 0 profit, the Irish subsidiary makes a fat profit. But the kicker is that in Ireland their effective tax rate is nearly 0. So they pay no tax on all their European profits.