Britain and Ireland agree on countries’ right to set own tax rate

IRELAND and Britain agree that each country in the EU had the right to set their own rates of corporation tax, Tánaiste and Minister for Foreign Affairs and Trade, Eamon Gilmore, made clear yesterday.

He said Ireland will not give up its 12.5% corporation tax despite persistent pressure from some EU member states.

Speaking at a business breakfast in UCD in honour of the British Foreign Secretary, William Hague, he assured representatives of the British and Irish business communities that Ireland’s rate of corporation tax will not change.