Beware of False Profits
You can only tax profits if they're reported, though. The problem isn't inherently the double-Dutch-Irish-malarkey, it's companies using that to shift profits to a lower-tax jurisdiction. Inside or outside of the EU, who's to say what's a fair level of payment to corporate HQ for use of the logo, or for ingredients, or as a contribution to the global advertising budget? All these (and others) can easily be used to shift gross profit out as overhead, thus reducing the level of operating profit that remains.