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Ireland Phases Out Tax Break as Overseas Pressure Mounts

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Ireland’s government will phase out a tax shelter used by U.S. companies from Google Inc. to LinkedIn Corp., amid mounting pressure from international authorities.

The “Double Irish,” which allows companies to avoid paying tax on much of their income, will be closed to new entrants from January, Finance Minister Michael Noonan said in parliament in Dublin today, as he laid out the 2015 budget. Companies already enjoying the tax break can continue to do so until 2020.