Thursday September 24, 2020

Donohoe: years of budget surpluses needed to offset corporation tax shock

Warning comes as OECD proposals risk loss of €1bn a year

Michael Brennan

Political Editor

@obraonain
13th October, 2019

Minister for Finance Paschal Donohoe has warned that the state will need to run several years of large budget surpluses to guard against a sudden collapse in corporation tax.

Donohoe’s comments were made after the Organisation for Economic Co-operation and Development announced plans to force tech companies like Google and Facebook to pay more taxes in the countries where they make their biggest sales – which could lose the state €1 billion a year....

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