merrion street

Finance Minister Paschal Donohoe has today published the Review of Ireland’s Corporation Tax Code, undertaken by Mr Seamus Coffey.

The terms of reference for the review included: tax transparency; avoiding preferential treatment; further implementing Ireland’s international commitments; delivering tax certainty; maintaining competitiveness; and maintaining the 12.5% corporation tax rate.

The Review states that the increase in Ireland’s corporation tax receipts can be expected to be sustainable up to 2020. It also acknowledges that Ireland has reached the highest standards with regard to tax transparency.

Publishing the Review today, Minister Donohoe said:

The Review points to the sustainability of our current corporate tax receipts to 2020, which is very positive. I welcome the emphasis given in the Review to the importance of certainty, which is core to our corporate tax offering. Our 12.5% corporation tax rate remains the bedrock of our competitive corporation tax regime and that is not going to change.

The consultation process recommended in the Review is important if we are to reduce uncertainty and have better-informed policy making. I intend to launch this consultation process on Budget Day.