Ireland increases corporation tax to 15%

Ireland will be increasing corporation tax from 12.5% to 15%.

The country will be signing up to a global tax reform for minimum rate internationals. Small and medium enterprises won’t be affected by the new rates.

- Advertisement -

Its previously low tax rates led to both Facebook and Apple basing their headquarters in Ireland.

Irish finance minister Paschal Donohoe said: “The government has now approved my recommendation that Ireland joins the international consensus. This is the right decision, it is a sensible and pragmatic decision.”

“We will remain an attractive location and ‘best in class’ when multi-nationals look to investment locations,” he said.

“These multinational enterprises support our economy with high-value jobs and at the same time, Ireland provides a stable platform and a long proven track record of success for MNEs choosing to invest here,” he added.

The new rate will affect companies that have an annual turnover of over €750m (£636m).

Latest News

More Articles Like This

Tagdiv Cloud library - template content.