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Tuesday 6 June 2023 Dublin: 13°C

# Corporate Tax

This year
2023
# factcheck
FactCheck: Does Ireland collect more corporate tax per person than almost any other EU country?
Ireland collects much of its taxes from companies, but how much compared to the rest of the EU?
# Corporation Tax
15% corporation tax rate for large multinationals to be introduced from next January
Finance Minister Michael McGrath confirmed that he will bring a memo to Cabinet this week to introduce the measure.
All time
# Corporate Tax
OECD hails 'major victory' as 136 nations join global tax deal
The deal will increase the State’s corporate tax rate for large companies to 15%.
# Taxing matters
Explainer: Why is Ireland about to raise its corporation tax rate from 12.5% to 15%?
It could be 2023 or 2024 by the time the new rules are actually implemented.
After months of negotiating, the Government is expected to sign Ireland up to a new 15% global minimum rate of corporation tax.
There is considerable uncertainty about what the changes will mean for the Irish economy and public finances.
But it could be 2023 or 2024 by the time the new rules are actually implemented.
Ireland's corporation tax receipts set to take a hit under new rules and fall by up to €2bn
Ireland's corporation tax take expected to rise again this year, but Donohoe admits it can't be relied upon in future
# US Election
What's the difference between a Trump and Biden presidency for Ireland?
Corporate tax rates, luring US pharma companies back, and regulating the tech firms – what’s in it for Ireland?
# Corporate Tax
Leaked Biden plan shows threat of sanctions against Ireland and others over corporate tax
Ireland has come under pressure in recent years to address its corporate tax rates for multinationals, but insists it has taken major steps to improve the system.
# watch the pennies
Central Bank tells government to save rather than spend windfalls to help buffer Ireland against future downturns
If windfalls are going to be to be used, they should be used to reduce Ireland’s debt.
# budget 2019
Haircuts, meals out and Irish hotel stays likely to get more expensive as VAT rate returns to 13.5%
The tax was cut to 9% to stimulate the tourism industry in 2012.
# cunning plan
Trump announces sweeping plans to move US corporate tax rate closer to Ireland's
The plans will lower the corporate tax rate from 35% to 20%.
Voices
Opinion: 'Tax isn't just an expense, it's a societal good and an investment in all our futures'
It’s time that the Irish government and multinationals start to reconsider their attitudes about tax, writes Sorley McCaughey.
# State Aid
Ireland spent €440k on a report defending Apple months before the EU's scathing tax ruling
But European officials said the unsolicited report from PwC ‘misinterpreted’ the relevant rules.
# sweetheart deals
Ireland named world's 6th worst corporate tax haven
Oxfam said Ireland’s score was based on its lack of effective rules to prevent corporate tax dodging and because it facilitates large-scale corporate tax avoidance.
# FDI
The UK wants to bring in the lowest corporate taxes of any major country
Significant cuts to UK and US corpoate taxes are seen as direct threats to Ireland’s industrial strategy.
# Money move
The world's biggest meat company is coming to Ireland but it's a 'total joke'
The move of the Brazilian multinational’s parent company has been criticised as a “brass-plate operation”.
# settling up
Ireland could lose millions in tax as Facebook shifts UK profits back to UK
The tech giant paid just €5,000 in corporate tax in the UK in 2014, by routing its profits through Ireland.
# unfriended
Facebook didn't pay a whole lot in Irish taxes last year
The social network’s local arm did, however, record a big leap in turnover.
# a bitter pill
Americans are queuing up to slam Pfizer's tax-inspired move to Ireland
But Simon Coveney insists the Republic is nobody’s tax haven.
# really big pharma
The world's largest drug company will soon be based in Ireland
The deal between Pfizer and Allergan is the biggest so-called tax ‘inversion’ in corporate history.
Voices
Think Ireland's corporate tax is unfair? Wave goodbye to Apple and thousands of jobs if we change it
Anyone in our political sphere who proposes to jeopardise this arrangement from within is an economic saboteur, writes Aaron McKenna.
# follow the money
This is how much tax Google paid in Ireland last year
The company employed nearly 3,000 people across Ireland in 2014.
# Deja Vu
These are 5 things that could wreck Ireland's economy all over again
The OECD has a lot to say about where the country is headed in its latest survey.
# tell it like it is
Why this tech CEO says low tax deals were the 'best thing in the history of the Irish economy'
This week we chatted with the head of US software company Nitro – and he didn’t hold back.
# tax dodgers paradise
The EU has started naming and shaming the world's worst tax havens
We’re looking at you, Bermuda.
# Under Threat
The EU is considering a minimum corporate tax rate, and that's bad news for Ireland
Pressure from Germany and France could see the European Commission reveal an initial plan on the matter next month.
# Hands Off
I don't think so - Enda won't be giving up Ireland's corporate tax rate without a fight
A levelling of the playing field across Europe has long been in the pipeline, but is it all an EU smokescreen?
# a jungle out there
EU suspects Amazon's Luxembourg tax deal was illegal. Next up Apple and Ireland...
The preliminary ruling is putting more pressure on European Commission chief Jean-Claude Juncker.
# kicking back
Ireland is getting 'kicked around' by big European countries on tax: Hayes
The luxleaks scandal has given Germany and France “cover” to push their agendas, the MEP says.
# inbox me
The Briefcase: A Northern Ireland tax showdown, Nama plans and UTV everywhere
This was the week in business.
# Profits
Facebook paid €2.3m corporate tax in Ireland in 2013
The company made a huge leap in pre-tax profits.
# pot kettle black
Turns out Ireland was telling the truth about company taxes. Unlike nearly everyone else...
Who’s the tax haven now, so?
# pass the hat around
Apple is worried it will have to pay back-taxes to Ireland... and the bill could be BIG
Grief over that claimed ‘sweetheart’ tax deal just won’t go away.
# extreme inequality
The number of billionaires in the world doubled during the global crisis
If the richest three people spent $1 million every day, it would take 220 years to run out of money.
# boxed in
Explainer: What is this 'knowledge box' and why does Ireland want to get one?
Michael Noonan wants more companies to invest their money in Ireland.
# R.I.P. Double Irish
The Double Irish is dead, long live the 'knowledge-development box'
But Michael Noonan says Ireland’s low corporate tax rate “never was, never has been” up for discussion.
# Tax inversion
Tech firms' tax shifting 'not an Irish issue': Bruton
Medtronic execs hit with €48 million bill for moving company’s tax from US to Ireland
# Budget
The Briefcase: Tax havens, a €100 million deal for Quinn's companies, and a Wetherspoons fry-up
This was the week in business.
# Tax Havens
Ireland second to Bermuda as 'conduit' for taxable income of US multinationals - IMF staff paper
Corporate tax avoidance is bad for the global economy, paper reports.
# Chilled
Enda Kenny: No, I'm not worried about the investigation into Apple's Irish tax deal
The Taoiseach is pretty confident that Ireland hasn’t broken any rules.
Voices
Column: Our lack of willingness to promote transparency is damaging developing countries
Ireland cannot give with one hand to developing countries while facilitating tax avoidance at the same time, writes Morina O’Neill.
# Brussels
European Commission to publish proposal on closing more corporate tax loopholes
The proposal is part of a wide range of measures planned by the EU to tackle tax evasion.