As part of yesterday's Westminster budget, the UK government announced the introduction of a so-called 'Google tax' - or to give it its full title, a 'diverted profit tax' - aimed at curbing tax avoidance.

George Osborne offered this warning when he announced the measure: "Let the message go out: this country's tolerance for those who will not pay their fair share of taxes has come to an end."

What is it?

The tax is aimed at a number of prominent multinationals who have complicated tax systems that see profits move between a number of different states.

The scheme will charge corporation tax of 25 percent (as opposed to the regular UK rate of 20 percent) on multinationals who try to divert profits into other regions.

It is believed that the new rules will be accompanied by much stricter corporate reporting requirements - with businesses being obliged to disclose revenue figures, and profits on a country-by-country basis.

When is this happening?

Mr Osborne confirmed that the law will be active as of the 1st of April - full details regarding how the law will be enforced are to be announced before then.

Will it affect Ireland?

If it is implemented as it was outlined yesterday, it could affect multinationals who operate in the UK and have headquarters in Ireland - this includes Apple and Google.

This is part of a broader international trend that is being lead by the Group of 20 (G20) countries. Ireland already announced the closure of the so-called "Double Irish" loophole as part of the 2015 Budget.

The Government has argued that this move will keep Ireland ahead of the curve when it comes to increased regulations aimed at tackling corporate tax avoidance.

Nicholas Shaxson, the author of Treasure Islands: Tax Havens and the Men Who Stole the World discussed the idea of Ireland competing through corporate tax policies to attract businesses with the Moncrieff Show in February.

He argues that Ireland could cut tax incentives for multinationals and still attract the same amount of companies to the country.

Will it work?

Shedding light on these corporation's complex tax setups is likely to be difficult - and these companies have already started a lobbying campaign against corporate tax reforms.

A joint submission has been submitted by five leading US tech industry bodies who have claimed that the G20's reform proposals that have spawned measures like the incoming 'Google tax' - are too far-reaching.

They argue that these rules will be a major source of disputes and confusion, and be too costly to enforce.

Google, Amazon, Apple, Microsoft, Intel, Yahoo!, Facebook, Uber, Netflix, HP, IBM, eBay and Twitter are among the companies represented by these industry groups.

They claim that the G20's campaign against corporate tax avoidance has "fundamental flaws" and that parts of the G 20's proposed reforms "must be rejected."

With the EU also pushing new rules that will call for greater transparency between EU states on corporate tax policies - the implementation of the 'Google tax' next month will be interesting to watch.