Two things on that: first, moving money between banks but in a single currency wouldn't generate a taxable event - there's no possibility of profit or loss like

Two things on that: first, moving money between banks but in a single currency wouldn't generate a taxable event - there's no possibility of profit or loss like there is with a currency exchange (i.e. you're not buying euros and then selling them, you're just moving dollars). Second, all the Irish and Dutch craziness relies on multiple corporations (all owned by the parent, of course), which complicates the tax situation a bunch.