Ireland is 'the biggest corporate tax haven in the world' according to report
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Ireland is 'the biggest corporate tax haven in the world' according to report

IRELAND REPRESENTS the biggest corporate tax haven in the world, according to a new study by some of the world's leading economists.

Research conducted by economic experts from the US and Denmark suggests the country is regularly used by multinational companies to shelter profits from the authorities.

According to the study from the University of California Berkley and the University of Copenhagen, foreign firms moved as much as €90bn in corporate tax profits into Ireland in 2015, alone.

Business journalist Vincent Wall also hit out at the findings, which estimate that Ireland has become the number one destination for anyone moving taxes.

Wall noted that the figure was "more that year than all the islands of the Caribbean combined, and well ahead of Singapore and other EU countries that use tax policies to attract investments.''

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Despite these damning statistics, the Republic's Department of Finance has moved to reject the claims, labelling the findings as "overly simplistic".

The figures come as Social Justice Ireland continue to call for tax reforms to help address issues of social injustice in the Republic.

The independent think tank is calling for a change after a recent study found as many as 800,000 people are living in poverty in Ireland, the largest proportion of which are children.