Discussion in 'Budget 2018' started by Brendan Burgess, Oct 11, 2016.
First person to be named in the Budget.
Well done Séamus
That's good news. Is this corporation tax or income tax? Or our entire tax system?
Review of the Corporation Tax Code by an independent expert
Appointment of an independent expert
On 2 September, the Government decided to arrange for a review of Ireland’s corporation tax code
by an independent expert to be appointed by the Minister for Finance. The Minister has decided
to appoint Mr. Seamus Coffey, an independent economist, to undertake the review.
Terms of Reference
The review of the corporation tax code shall be conducted by an independent expert, to be
appointed by the Minister for Finance, in respect of the following matters:
achieving the highest international standards in tax transparency, including in the automatic
exchange of information on tax rulings with other relevant jurisdictions, having regard to
benefits which may accrue to developing countries from enhancing global tax transparency;
ensuring that the corporation tax code does not provide preferential treatment to any
further implementing Ireland’s commitments under the Organisation for Economic Cooperation
and Development’s Base Erosion and Profit Shifting (BEPS) project to tackle
harmful tax competition and aggressive tax planning;
delivering tax certainty for business and maintaining the competitiveness of Ireland’s
corporation tax offering; and,
maintaining the 12.5% rate of corporation tax.
The review shall make recommendations to the Minister for Finance by the end of the second
quarter of 2017.
The Department of Finance may, as required, facilitate a public consultation with citizens, civil
society and stakeholders on any or all of the matters under review.
Looks like Brussels is looking into corporate taxes EU wide.
Separate names with a comma.