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Minister Donohoe publishes Ireland’s Corporation Tax Roadmap

https://www.finance.gov.ie/updates/minister-donohoe-publishes-irelands-corporation-tax-roadmap/

he Minister for Finance and Public Expenditure & Reform, Paschal Donohoe T.D., has today (Wednesday) published Ireland’s Corporation Tax Roadmap.

The Roadmap takes stock of the changing international tax environment, outlines the actions Ireland has taken to date and the further actions that will be taken over the coming years.

The Roadmap includes consideration of responses received to the Department’s consultation on the recommendations made in the Review of Ireland’s Corporation Tax Code, undertaken by Mr Seamus Coffey, and the implementation of the Anti-Tax Avoidance Directives.

The Roadmap outlines the significant further action that Ireland is taking as part of international tax reform efforts, including commitments that:

  • Legislation will be introduced in Finance Bill 2018 to introduce Controlled Foreign Company rules with effect from 1st January 2019;
  • The final legislative steps required to allow Ireland to complete the ratification of the BEPS Multilateral Instrument will be taken in Finance Bill 2018;
  • Legislation will be introduced in Finance Bill 2019 to introduce anti-hybrid rules, update and expand Ireland’s transfer pricing rules and fully implement the 6th EU Directive on Administrative Co-operation.

The Roadmap also flags the intention to hold further consultation processes on a range of issues including the technical design of complex ATAD measures and the Coffey Review recommendation to consider the potential impacts of moving to a territorial tax regime.

Publishing the Review today, Minister Donohoe said: ‘I am delighted to publish this comprehensive Roadmap which sets out a direction of travel for corporation tax reform over the coming years. The Roadmap highlights the significant actions that Ireland has taken and the actions we will continue to take to ensure that our corporation tax regime is transparent, sustainable and legitimate’.

‘It is vital to have a consensus-based, globally agreed approach to international tax. Tax rules need to continue evolve to match the modern world, and that evolution can best take place through international agreement at the OECD and the BEPS Inclusive Framework. Ireland will continue to foster economic activity in Ireland, the EU and beyond by adapting and evolving our corporate tax regime while maintaining our key 12.5% rate. This Roadmap demonstrates my, the Government’s, commitment to continuing the significant progress already made to strengthen Ireland’s corporation tax system now and in the years to come.’

ENDS

Notes to Editors:

Wednesday, 5th September 2018

https://www.finance.gov.ie/wp-content/uploads/2018/09/Corporation-Tax-Road-Map-fin.pdf

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sgqaRPwj jAlHXOFpzMUZm · November 28, 2019
YNqeZPMrxtuOkm OrSlMtUCTwXFsKGB · November 28, 2019