Ireland to sign up to new global corporate tax system and abandon 12.5% rate

Key concessions have been secured by the Irish government, including removing the wording that the minimum rate would be ‘at least’ 15 per cent

Paschal Donohoe, The Minister for Finance, will brief cabinet colleagues on the updated text of the proposed overhaul of corporate tax systems on Thursday. Picture:

Ireland is on the verge of signing up to a landmark overhaul of the global corporate tax system and abandoning its long-held 12.5 per cent headline rate after key concessions to the accord were secured over recent weeks.

The Business Post has learned that a revised draft of the proposed OECD reforms contains amended wording around the proposed minimum effective corporate tax rate of 15 per cent, which is likely to satisfy government concerns surrounding ...