but it applies only to CD's/records/tapes sold in Ireland.
I think the loophole might be bigger than that - as far as I can tell from the article it applies to taxes on royalties in any country in the world that Ireland has a tax treaty with - so once you have the exemption you can use it to not pay taxes on royalties in the US for example, provided you contact the IRS and show them your tax exempt status in Ireland
on a completely unrelated note, Charlie Huaghey was a thieving bastard who ran the country into the ground while filling up offshore accounts for himself and his cronies in the 80s - I sincerely hope he spends whatever short years he has left in jail, although thats unlikely to happen