Ireland: Recommendations for changes to corporation tax | KPMG | GLOBAL

Ireland: Recommendations for changes to corporation tax; 12.5% rate continues

Ireland: Recommendations for changes to corporation tax

In Ireland, a report released 12 September 2017—Review of Ireland’s Corporation Tax Code—includes recommendations for future changes to Ireland’s corporation tax regime, but no recommendations for changes to the 12.5% rate of corporation tax.

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The report’s findings are broadly positive on the future sustainability of Ireland’s 12.5% rate regime.

The report’s recommendations for changes to Ireland’s regime largely reflect commitments that Ireland has made as part of multilateral measures to enact further protections against base erosion and profit shifting (BEPS). These commitments are aligned with those undertaken by other European Union (EU) Member States and with recommendations set out by the Organisation for Economic Cooperation and Development (OECD). Changes made as part of multilateral adoption would form a core part of Ireland’s international tax policy, and appear to align Ireland’s tax regime with evolving international standards for corporate income tax regimes while preserving Ireland’s relative competitive position as an attractive location for business.

Other report recommendations for change include broadening the scope of Ireland’s transfer pricing regime as well as changes to the tax regime for intangible assets.

The government announced that implementation of the report’s recommendations will be subject to a public consultation to be launched on Budget Day, 10 October 2017.

 

Read a September 2017 report prepared by the KPMG member firm in Ireland

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