This will impact a lot of companies, Google being a bit of a poster child here.

The government is phasing out what is known as the “double Irish” provision. It allows corporations with operations in Ireland to make royalty payments for intellectual property to a separate Irish-registered subsidiary. That subsidiary, though incorporated in Ireland, typically has its home in a country that has no corporate income tax.

Take Google. Its Dublin headquarters are its main hub outside the United States, employing more than 2,500 people. A Dublin-based subsidiary for Google generates revenue, mostly from online advertising, and then pays it in royalties to a separate Google unit that is registered in Ireland but is resident in Bermuda for tax purposes.

It’s important to note that the elimination of the “double Irish” provision will not, by itself, change the tax rates negotiated by companies like Apple. That’s a separate issue.