Tuesday August 11, 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

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...

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