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Ireland seeks tax clarity from US before inking any deal on global minimum rate

Posted On: 24 Oct 2021   |   Posted By: Politico

DUBLIN - Ireland wants a proposed 15 percent minimum tax rate on corporate profits to be a ceiling, not a floor - and it doesn't want to accept any deal until it's clear what the U.S. Congress will authorize, Irish officials said Monday.
Dublin spelled out its bottom line as EU Economy Commissioner Paolo Gentiloni held face-to-face talks with Irish Finance Minister Paschal Donohoe.
Ireland, which has used its decades-old 12.5 percent tax rate to woo several hundred U.S. multinationals to its shores, is resisting mounting pressure as one of a handful of holdouts to the emerging global accord due to be formalized at next month's G20 summit.
“I am very clear that it is not appropriate for Ireland to be in the agreement now. That may continue to be the case,” Donohoe said at a Dublin press conference alongside Gentiloni. “But equally we are working very hard to see if an agreement is possible that would allow Ireland to join.”
Senior Irish officials told POLITICO that the Organization for Economic Cooperation...

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