Corporation Tax Change ‘Only For Very Large Firms'

Tanaiste in deal dilemma. Agreement still in review

- James Ward

A CHANGE to Ireland’s 12.5% corporation tax “won’t impact the average Irish business”, the Tanaiste has said.

The Government is in talks with the Organisation for Economic Co-operation and Development about proposed reform of global tax rules, signed up to by 130 countries.

The Taoiseach this week refused to commit to tweaking Ireland’s highly-prized 12.5% tax rate, a position backed by Leo Varadkar yesterday.

Mr Varadkar said if Ireland does sign up to the agreement, it will only impact on large companies, earning more than €640million per year.