Cox issues corporate tax warning

FORMER European Parliament president Pat Cox has warned Brussels that any attempt to force Ireland to increase corporate tax rates – would constitute “a grave error of judgment by the EU” and would go against international law.

Addressing an event in Co Meath Mr Cox – who headed the European Parliament from 2002 to 2004 – responded to recent media reports linking current EU Economic Affairs Commissioner Olli Rehn with speculation that Brussels could force Ireland to lower its corporate tax rate.

Mr Rehn was quoted as saying that Ireland “will not continue as a low-tax country, but it will rather become a normal tax country in the European context”.