Corporation tax ‘may hit 17.5%’

IRELAND could yet be forced to relinquish its 12.5% corporation tax rate if it has to go to Europe for financial assistance to deal with the current debt crisis.

In that scenario “the decision about retaining the 12.5% corporation tax may be taken out of Ireland’s hands,” Bloxham Stockbrokers said in a note yesterday.

Within four years the brokers said we cold be faced with a figure of 17.5% if our funding problems intensify.