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2016-07-13 — bloomberg.com
The figure is mostly explained by the open nature of Ireland's economy and its attraction to U.S. companies seeking access to a 12.5 percent tax rate. Among firms that have inverted to Ireland, mostly through acquisitions, are Perrigo Co. and Jazz Pharmaceuticals Plc. Corporations with assets overseas of 523 billion euros ($580 billion) were headquartered in Ireland in 2014, up from 391 billion euros in 2013, according to the statistics office.
"We are a very small economy, and if we get a big increase in assets, this is what happens,"Â Michael Connolly, an official at the CSO, said on Tuesday. Once explained the numbers are "believable," he said.
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