Wednesday April 8, 2020

Tax changes could cost state €2bn a year, Donohoe warns

Minister for Finance says he has ‘no doubt that changes are coming’ to the way multinationals’ profits are treated

Aiden Corkery

Political Correspondent

@aiden_corkery
9th January, 2020
Paschal Donohoe said the government needed to start planning for how the changes could affect Ireland. Picture: Sam Boal/RollingNews.ie

There is “no doubt” that significant global changes to how multinationals’ profits are taxed are coming, and Ireland could lose up to €2 billion a year as a result, Paschal Donohoe has said.

New base erosion and profit shifting (BEPS) regulations are expected to be introduced from 2022 that will limit multinationals’ ability to route their profits through countries such as Ireland to minimise their tax bills.

Instead, the reforms spearheaded by...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

New Labour leader offers ‘constructive support’ for the national effort against Covid-19

Michael Brennan | 3 days ago

When the dust settles from the Covid-19 crisis, drastic measures will be needed to ensure the economy survives the worst of the blowback – but there is widespread consensus that austerity measures won’t cut it this time

Michael Brennan | 3 days ago

ExxonMobil and Equinor have relinquished their exploration interests in this country, and the Chinese government is following suit

Daniel Murray | 3 days ago