Republic is '˜not a tax haven,' says Varadkar

It comes after a study by economists from the United States and Denmark, published earlier this year, said the country is the biggest tax haven in the world used by multinationals to shelter profits.

But the Irish premier has rejected this and said the Republic is “fully compliant” with international best practice standards.

Speaking at a US-Irish economic conference at the American Embassy in Dublin on Thursday, Mr Varadkar said: “Ireland is not a tax haven, we do not wish to be a haven, nor do we wish to be seen as one.

“We are only one of 23 countries in the world that is fully compliant with the new international best practice as judged by the Global Forum on Transparency and Exchange of Information.

“And we’ll continue to crack down on avoidance on the years ahead.”

He also confirmed that US President Donald Trump has postponed his visit to the Republic.

There was uncertainty over his visit after a Washington official said they was still finalising whether Ireland would be a stop on the President’s itinerary in Europe in November.