Tom Maguire: A corporation tax proposal that will bring certainty to Irish business
The EC’s draft directive to put Pillar 2 into action should be effective, and a net positive for Ireland – and here’s why
Last year, a 15 per cent global minimum level of taxation for multinational groups was agreed by 136 countries, including Ireland, under the auspices of the Organisation for Economic Co-operation and Development (OECD). This is generally referred to as OECD Pillar 2.
The Pillar 2 principles are based on the implementation of two domestic tax rules: the income inclusion rule (IIR), and the undertaxed payments rule (UTPR), which comes into play when the IIR doesn’t ...