We use cookies to collect and analyse information on site performance and usage to improve and customise your experience, where applicable. View our Cookies Policy. Click Accept and continue to use our website or Manage to review and update your preferences.


Strictly necessary cookies

Cookie name Duration Cookie purpose
ASP.NET_SessionId Session This cookie holds the current session id (OPPassessment only)
.ASPXANONYMOUS 2 Months Authentication to the site
LSI 1 Year To remember cookie preference for Law Society websites (www.lawsociety.ie, www.legalvacancies.ie, www.gazette.ie)
FTGServer 1 Hour Website content ( /CSS , /JS, /img )
_ga 2 Years Google Analytics
_gat Session Google Analytics
_git 1 Day Google Analytics
AptifyCSRFCookie Session Aptify CSRF Cookie
CSRFDefenseInDepthToken Session Aptify defence cookie
EB5Cookie Session Aptify eb5 login cookie

Functional cookies

Cookie name Duration Cookie purpose
Zendesk Local Storage Online Support
platform.twitter.com Local Storage Integrated Twitter feed

Marketing cookies

Cookie name Duration Cookie purpose
fr 3 Months Facebook Advertising - Used for Facebook Marketing
_fbp 3 months Used for facebook Marketing
Ireland not yet ready to join minimum tax rate deal
Finance minister Paschal Donohie Pic: RollingNews.ie

02 Jul 2021 / taxation Print

Ireland not yet ready to join minimum tax rate deal

Ireland was not among 130 countries that yesterday (1 July) committed themselves to proposals aimed at reforming of the international tax system.

A framework drawn up by the OECD, which includes two separate ‘pillars’, is aimed at ensuring that multinational companies pay “a fair share” of tax wherever they operate.

The remaining elements of the framework, including the implementation plan, are due to be finalised in October.

Reservations

A statement from the Department of Finance said that Ireland fully supported the ‘pillar one’ proposals, which would shift some taxes from multinationals’ home countries to markets where they have business activities and earn profits, regardless of whether firms have a physical presence there.

Ireland has reservations, however, about ‘pillar two’, which includes a proposal for a global minimum effective tax rate of “at least 15%”.

Minister for Finance Paschal Donohoe (pictured) said that, while he had expressed Ireland’s reservations, the Government remained committed to the process.

“Ireland will continue to play our part in reaching a comprehensive and, indeed, historic agreement,” he said.

Minister Donohoe had previously warned that Ireland would have to prepare for changes to the international tax system that could affect the country’s corporation tax take. The Government said that, while the ‘pillar one’ proposals would reduce tax receipts, they would also bring “stability and certainty”.

Gazette Desk
Gazette.ie is the daily legal news site of the Law Society of Ireland