Various news outlets are reporting that Ireland has changed its tax law, but there is doubt whether it will actually result in international businesses' paying more tax globally. Apparently it will still be possible for a company incorporated in Ireland to recognize all of its income in a no-tax jurisdiction such as Bermuda.
That leaves two questions: why would Ireland change its law and why would it do so in a relatively ineffective way?
I believe the answer is "crumbs." Major multinational companies, when they choose to take advantage of the peculiarities of the Irish tax law, often seem to leave a few dollars (or Euros) behind. That can easily be done by not fully "zeroing out" the income that is subject to Irish tax, or it can be done by actually carrying on some job-creating business in Ireland. Ireland does not want to be seen as a tax-avoidance jurisdiction, but it likes those crumbs.
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