Analysis: Corporate tax threat and cost of Covid supports make for grim financial outlook

There was little to be cheerful about in the latest Stability Programme Update with changes to the corporate tax regime on the horizon as the pandemic continues to hit

14th April, 2021
Analysis: Corporate tax threat and cost of Covid supports make for grim financial outlook
Minister for Finance Paschal Donohoe said he hoped there would be time for the public finances to recover from the impact of the pandemic before the full impact of the international corporation tax changes hit home.

The storm clouds are gathering when it comes to Ireland’s 12.5 per cent corporation tax rate.

US President Joe Biden’s plan to bring in a standard global minimum corporation tax rate of 21 per cent could affect the American multinationals who provide a substantial chunk of the €11.6 billion in corporation taxes expected to be gathered here this year.

The potential impact of this was laid out in the Stability Programme Update published...

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