The last stand: how Ireland finally conceded its long-cherished 12.5 per cent tax rate

After years of resisting the global tax changes, Paschal Donohoe says the decision is in the country’s best interests and provides ‘certainty and stability’

Paschal Donohoe, the Minister for Finance, said that ‘joining this agreement is an important decision for the next stage of Ireland’s industrial policy’. Picture:

Arriving to the Government Press Centre minutes after he and his government colleagues had taken the landmark decision to abandon Ireland’s long-held 12.5 per cent corporation tax rate for multinationals, Paschal Donohoe declared the decision to be in the best interests of the country.

“Our focus over recent weeks has been to secure the necessary changes to provide certainty and stability in the revised [OECD] framework to protect our strategic interests. I believe we have ...