from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun finance A form of
tax avoidance, based on the Double Irish arrangement, in which revenuesfrom incomeof salesof the productsshipped by the second Irish company are first bookedby a shellcompany in the Netherlands, taking advantage of generoustax laws there.
from Wiktionary, Creative Commons Attribution/Share-Alike License
The two Irish holding companies can be imagined as "bread", with the Netherlands company as a filling between them.
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