Minister Donohoe launches Public Consultation on New Taxation Measures to apply to Outbound Payments
The Minister for Finance, Paschal Donohoe TD, has (Friday) launched a public consultation seeking stakeholder views on the introduction of New Taxation Measures to apply to Outbound Payments. The Update to Ireland’s Corporation Tax Roadmap, published in January 2021, set out a series of commitments designed to update and enhance Ireland’s corporation tax rules.
This consultation delivers on the commitments contained in the Update to Ireland’s Corporation Tax Roadmap as well as delivering on milestones in Ireland’s National Recovery and Resilience Plan.
The Commitments in the Update to Irelands Corporation Tax Roadmap are;
- Commitment 6 - Consider additional defensive measures in respect of countries on the EU list of non-cooperative jurisdictions, and
- Commitment 7 - Consider broader actions that may be needed in respect of outbound payments.
Further to the commitments, the National Recovery and Resilience Plan sets out a series of milestones that will be delivered to limit opportunities for aggressive tax planning. One of these milestones is to conduct a public consultation during 2021, seeking stakeholders' views on aspects of these measures to prevent double non-taxation in relation to outbound payments, with a view to developing and introducing legislation.
The public and interested stakeholders are now invited to give their views on the issues detailed in the public consultation document. It is anticipated that stakeholders’ valuable insight will inform the development of legislation to be introduced in Finance Bill 2022 or 2023.
The consultation period will run from 5 November 2021 to 20 December 2021. Any submissions received after this date may not be considered.
Public Consultation on New Taxation Measures to apply to Outbound Payments
Brian Meenan, Press Officer, Department of Finance – 087 219 8857
To lead in the achievement of the Government’s economic, fiscal and financial policy goals, having regard to the goals set out in the Programme for Government - Our Shared Future.
Ceannaireacht a dhéanamh i ndáil le spriocanna geilleagair, fioscacha agus airgeadais an Rialtais a bhaint amach, agus aird a thabhairt ar na spriocanna atá leagtha amach i gClár an Rialtais - Ár dTodhchaí Comhroinnte.