The last stand: how Ireland finally conceded its long-cherished 12.5 per cent tax rate

After years of resisting the global tax changes, Paschal Donohoe says the decision is in the country’s best interests and provides ‘certainty and stability’

10th October, 2021
The last stand: how Ireland finally conceded its long-cherished 12.5 per cent tax rate
Paschal Donohoe, the Minister for Finance, said that ‘joining this agreement is an important decision for the next stage of Ireland’s industrial policy’. Picture: RollingNews.ie

Arriving to the Government Press Centre minutes after he and his government colleagues had taken the landmark decision to abandon Ireland’s long-held 12.5 per cent corporation tax rate for multinationals, Paschal Donohoe declared the decision to be in the best interests of the country.

“Our focus over recent weeks has been to secure the necessary changes to provide certainty and stability in the revised [OECD] framework to protect our strategic interests. I believe we...

Subscribe from just €1 for the first month!

Currency

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

Accountancy and legal firms warned Donohoe about corporate tax reform

Tax Peter O'Dwyer 4 days ago

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

Tax Peter O'Dwyer 1 week ago

Tom Maguire: Multinationals must face brave new world ushered in by EU tax reform

Focus On Tom Maguire 1 week ago

IDA chief warns that Ireland must do a ‘huge amount’ to remain attractive after tax deal

Tax Peter O'Dwyer 1 week ago