EU reform plan will deliver a fatal blow to economy
Our corporate tax rate must be protected or we can kiss goodbye to foreign investment, says Willie O'Dea
CCCTB. Get used to these letters -- you will be seeing and hearing them a lot in the coming weeks. CCCTB stands for the Common Consolidated Corporate Tax Base.
According to the European bureaucrats proposing it, this is merely about bringing simplicity, reducing compliance costs and it will involve a lower rate of tax.
The reality is very different. It is simply about competition for Foreign Direct Investment (FDI). This is an area in which we lead the rest of Europe and it is how we will produce jobs for the future. Concede ground on this and the corporation-tax battle is over. It is as simple as that.