Business Irish

Thursday 21 September 2017

Ireland is not a tax haven - OECD

Pascal Saint-Amans: keynote speaker at tax conference
Pascal Saint-Amans: keynote speaker at tax conference
Peter Flanagan

Peter Flanagan

IRELAND is not a tax haven and is nowhere near becoming one, the OECD has said.

Speaking at an Oireachtas sub-committee on global taxation, the OECD's director of its centre for tax policy and administration Pascal Saint-Amans said definitively that Ireland does not fill any of the relevant criteria for the OECD to class this state as a tax haven.

"The definition for a tax haven that was internationally agreed classes a tax haven as a country with a zero tax rate, no transparency or exchange of information, and no real operations on the ground there.

"Clearly Ireland does not fill that criteria," he added.

The support of the OECD will be of comfort to the Government, which has come under severe pressure after a report by the US Senate sub-committee for investigations accused Ireland of giving Apple a secret deal that allowed it to pay a corporation tax rate of only 2pc here, and the committee's chairman Carl Levin repeatedly accused Ireland of being a tax haven.

A corporation tax rate of 12.5pc applies in this country.

That US report gained attention worldwide and is seen to have damaged Ireland's reputation for financial propriety around the globe.

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