Minister confident Ireland will join global corporate tax deal By Reuters
DUBLIN (Reuters), a senior Irish minister claimed Tuesday that he believed the government would agree to a global overhaul of corporate tax laws this week, after new proposals were circulated among negotiating countries.
Ireland, which is home to many of the largest multi-national corporations in Europe, declined to be a member of the Organisation for Economic Co-operation and Development’s (OECD), deal that was supported only by a small number of other countries.
Ireland was opposed to the proposal of a minimum global rate “at the least” 15%. It also opposes the use of the term “at the least,” which, it claimed, would undercut the 12.5% rate that has been cherished by companies for many years.
“I believe we’ll be able be part in the solution. “I’m optimistic that we can sign up.” Eamon Ryan is the Environment Minister and also leader of the Green Party junior coalition, according to RTE.
Ryan stated that Ireland joining the agreement was crucial for its image. The deal will be backed by ministers on Thursday.
An agreement from Ireland would help to establish a global minimum rate. This is the country that has received the greatest benefits from lower corporate taxes. Google (NASDAQ)), Facebook (NASDAQ) and Apple(NASDAQ:), are multinationals that directly employ over one of 10 Irish workers.
Leo Varadkar, the Deputy Prime Minister, was optimistic on Monday. He said that the revised proposals addressed “a lot, but not all”, of Ireland’s concerns.
Paschal Dohoe, Finance Minister, will suggest to Cabinet whether Ireland should be signed up.
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