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Ireland to sign up to global corporate tax deal

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DUBLIN, Oct 7 (Reuters) – The Irish government will drop its opposition to an overhaul of global corporate tax rules, l

The Minister for Finance confirmed the decision after a cabinet meeting on Thursday.

The Irish Independent reports: “This is the right decision,” said Paschal Donohoe. “It is a sensible and pragmatic decision made by the government in the interests of our country, and ultimately, a decision that I believe will be critical to conditions to create longer-term certainty for businesses and investors, which in turn will be to the benefit of many thousands of employees in the future.”

Mr Donohoe said not joining the deal would entail “reputational” as well as “economic and budgetary” risks.

The 15pc minimum rate will affect 56 Irish firms employing around 100,000 people and 1500 foreign-owned multinationals with around 400,000 staff.

The Independent

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