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Friday, January 21, 2022

Government to decide on Thursday whether to accept Corporate Tax rise to 15%

The Government is set to make a decision on Thursday whether to opt into the global Corporate Tax deal.

Ireland has had a Corporate Tax rate of 12.5% for decades, and has largely been seen as one of the main drivers for foreign direct investment into Ireland.

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Entering the global tax deal would force Ireland’s tax rate to at least 15%.

Ireland was one of few countries who resisted the global tax plan.

However, after receiving the updated text, Cabinet will make a decision on Thursday whether Ireland will join the agreement.

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Tánaiste Leo Varadkar said Paschal Donohoe verbally briefed him on the issue at the weekend.

“Government will now give that some consideration, we have a Cabinet meeting on Thursday afternoon and we would hope to be able to respond to it after that meeting,” he said.

Varadkar said the updated text does respond to a lot, if not all concerns the Irish Government had.

IMAGE – PA Images

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