EU law to change corporate tax rules

Ireland may need to revise its corporate tax rules following EU moves to shed more light on the tax bills of multinationals.

Yesterday, the European Commission published a draft law requiring corporations with global revenues in excess of €750m to upload detailed profit and tax information on their websites, broken down country by country.

Ireland stops short of requiring public disclosure, asking companies to share information only with tax authorities, a standard adopted last year following an international agreement at the OECD.