Irish Corporate Tax Rate Will Not Budge

There is no question of Ireland moving its 12.5 percent corporate tax rate in either direction in response to other jurisdictions cutting their rates as it would only sow uncertainty, Finance Minister Michael Noonan said on Wednesday.

“The strongest card we have to play is certainty. If we were to move down or up, we’d take away the certainty of the system so there’s no question of changing from 12.5 percent in either direction,” he told reporters on the sidelines of a tax conference.

“The strongest thing we have on tax at this stage is that internationally everybody knows that Ireland and 12.5 percent corporate tax are synonymous. It’s almost an Irish brand now.”

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.