Re: Of course, Ireland has already protested
So too has America - the EU doesn't have the right to tax American companies - that right is reserved by the US ... and no doubt, at some point in the future, they will get around the thinking about doing something about it - or not.
Quite right if the company is doing business in America. The problem here is that the company is doing business in Ireland and are not only using this to dodge Irish taxes by agreement with the Irish government but avoiding taxation elsewhere in Europe by channelling its booty back to Ireland at every opportunity.
If it wants to do business in Europe without paying taxes to the European base country they are working from, then close that company down and let them do their business directly from America instead, where corporates dodging taxes is a pretty common affair.