KPMG warns Irish tax deals for global firms near an end

The days of global corporations exploiting Irish tax agreements to minimise their tax bills may be coming to an end, according to KPMG.

The KPMG Corporate and Indirect Tax Rate Survey 2014 found that Ireland had the fourth lowest corporation tax at 12.5% along with Cyprus and Liechtenstein. The lowest corporation tax in the world went to Montenegro with a 9% rate.

Despite Ireland’s internationally low corporation rates, many companies exploit loopholes in international taxation agreements to further lessen their tax bill.