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Respite: Global digital tax may not hurt Ireland

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Corporate tax: Google’s Dublin HQ

Corporate tax: Google’s Dublin HQ

Corporate tax: Google’s Dublin HQ

A first look at some of the numbers behind plans to change the way companies are taxed under a new global system has shown there may be very little change and that may be good news for Ireland.

While that is potentially a relief to the Exchequer - which may stand to lose far less than the €500m a year in corporate tax revenues that the Department of Finance predicted - the proposals from the Organisation for Economic Cooperation and Development (OECD) disappointed some campaigners.

"The first impression, very clearly, is that the OECD proposals would - at the same time as introducing very substantial complexities and uncertainty - only deliver minimal redistribution of taxing rights," said Alex Cobham of Tax Justice Network.

Irish Independent