Irish multinationals may face higher taxes if rates diverge from US

Government defends decision not to sign up to OECD reforms arguing they could stall if US Congress fails to agree on higher corporate taxes

4th July, 2021
Irish multinationals may face higher taxes if rates diverge from US
US president Joe Biden has been the driving force behind the proposed global tax reforms. Picture: Getty

The global tax reforms being negotiated at the OECD could result in extra tax for Irish multinationals, the Department of Finance has warned.

Sources inside the Department of Finance have told the Business Post that any divergence in Irish and US corporate tax rates for multinationals could result in large Irish companies with significant operations in the US, including Glanbia, Smurfit Kappa, Kerry Group and CRH, being hit with a tax surcharge on US profits....

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