12.5% corporate tax rate under pressure

Ireland’s 12.5% corporate tax rate is coming under unprecedented pressure from the UK, US and the EU.

It might be better for the Government to voluntarily close some of the loopholes that make it attractive for multinationals to locate here rather than be implicated in a wider clampdown on tax havens.

Starbucks is the latest big multinational to be lacerated before the House of Commons Public Accounts Committee for the non- payment of corporate tax in the UK. It follows the likes of Google, Amazon and other big brands that have faced the wrath of MPs over their minimal UK tax liabilities.