"Republic's corporation tax increases leave MLAs to consider changes- Impact on tax havens unclear"

Description

"Cited in article in Newsletter re. impact of the international 15% "floor" on corporate tax rates

Subject

"Encouraging inward investment through low rates of tax on profits has been in place since the mid 1950s, says Dr Esmond Birnie, Senior Economist at Ulster University (above). Dublin has long been under pressure internationally to change its corporation tax rate, he said. "Very importantly, whilst in recent years the official or nominal tax rate in the RoI was 12.5% the actually effective rate was often much lower.

"It is unclear how far the new arrangements will prevent the use of the Republic of Ireland as a funnel to pass profits to extremely low tax international tax havens..."