The Irish Department of Finance has launched a public consultation on the OECD international tax proposals agreed at the OECD/G20 Inclusive Framework meeting on BEPS on 1 July. The consultation notes that: Ireland is ‘fully supportive of the pillar one proposals’ and, although it has broadly supports agreement on pillar two, it has ‘reservation about the proposed global minimum effective tax rate of “at least 15%”’.
The intention is that the consultation will help in identifying the challenges and opportunities of the proposals in respect of Ireland’s corporate tax code and broader industrial policy. The consultation, which asks seven specific questions, including whether there any specific issues that should be considered in respect to implications for the Irish tax code arising from the GILTI, SHIELD and other US corporate tax reform proposals, with particular reference to the significance of US MNEs in Ireland. The consultation is open for comments until 10 September.
The Irish Department of Finance has launched a public consultation on the OECD international tax proposals agreed at the OECD/G20 Inclusive Framework meeting on BEPS on 1 July. The consultation notes that: Ireland is ‘fully supportive of the pillar one proposals’ and, although it has broadly supports agreement on pillar two, it has ‘reservation about the proposed global minimum effective tax rate of “at least 15%”’.
The intention is that the consultation will help in identifying the challenges and opportunities of the proposals in respect of Ireland’s corporate tax code and broader industrial policy. The consultation, which asks seven specific questions, including whether there any specific issues that should be considered in respect to implications for the Irish tax code arising from the GILTI, SHIELD and other US corporate tax reform proposals, with particular reference to the significance of US MNEs in Ireland. The consultation is open for comments until 10 September.
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