Monday 24 September 2018

Paschal Donohoe: We're committed to corporation tax reform, but 12.5pc rate is here to stay

 

Report: Dr Seamus Coffey has published an independent review of the Irish corporate tax system. Photo: Daragh Mc Sweeney/Provision
Report: Dr Seamus Coffey has published an independent review of the Irish corporate tax system. Photo: Daragh Mc Sweeney/Provision

Paschal Donohoe

Ireland has made significant changes to its corporation tax code in recent years to ensure that the right amount of tax is paid by the right companies in the right places. Often we have received little acknowledgment of this.

By eliminating stateless companies and bringing an end to the so-called 'Double Irish', we have closed off gaps which inadvertently allowed companies to exploit differences in global tax rules to produce very low tax rates across their global operations.

We have made great strides to ensure a fairer and more transparent tax system exists here in Ireland, for businesses of all kinds. We are one of only 23 jurisdictions in the world to be fully compliant with new international best practice by the Global Forum on Tax Transparency and Exchange of Information and were one of the first to introduce country to country reporting, making it easier to track who is, and who isn't, paying their fair share of taxes.

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