Government prepares to concede on corporate tax rate of 15 per cent

Officials want OECD to drop ‘at least’ 15 per cent phrasing from the tax reform deal, while the government has two weeks to make its decision on whether to back the reforms

Paschal Donohoe, the Minister for Finance, and his officials are set to push hard over the coming weeks to secure a change in the OECD’s wording around the minimum corporate tax rate. Picture:

The Irish government is likely to sign up to the OECD’s corporate tax reform deal if the wording of the agreement ensures the global minimum tax rate will be set at precisely 15 per cent, the Business Post understands.

The government’s position on the OECD’s tax reforms comes as lawmakers in the US Congress prepare to increase the minimum tax on the foreign income of US companies to 16.5 per cent – a move that ...