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....

Subscribe from just €1 for the first month!


What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Related Stories

Tom Maguire: A corporation tax proposal that will bring certainty to Irish business

Brian Keegan: France has big plans for its EU presidency

Taxing times: How a rise in suspicious transaction reports is helping Revenue know where to look

Revenue deploys ‘real-time’ info to claw back €105m in wage subsidies