‘Convincing case’ for reducing corporation tax in North

NORTHERN Ireland may have grounds to reduce its corporation tax rate to the same level or below that of the Republic of Ireland, a committee of British lawmakers said in a report published yesterday.

“There is a convincing case for reducing the corporation tax rate in Northern Ireland, not least so it can better compete with the Republic of Ireland,” the Northern Ireland Affairs Committee, comprised of 14 British lawmakers, found.

Ireland has a 12.5% corporation tax rate, while the rate in Britain, which includes Northern Ireland, stands at 26% after a two percentage-point cut last month.