‘Offsetting measures’ needed to make up shortfall from shift away from 12.5% corporate tax rate

Ratings agency has warned of potential negative consequences of joining up to global tax overhaul

11th October, 2021
‘Offsetting measures’ needed to make up shortfall from shift away from 12.5% corporate tax rate
‘The implementation of the OECD corporate tax agreement may dent Ireland's government revenues.’ Picture: Getty

Ireland’s historic shift away from its headline 12.5 per cent corporate tax rate will put pressure on the country’s public finances if not offset by other measures, S&P has warned.

The global ratings agency said the government’s landmark decision to move to a minimum effective rate of 15 per cent had “no immediate effect” on its view of Ireland’s sovereign credit quality but highlighted the country’s growing dependence on corporate...

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