Corporate tax rate not under threat, says Noonan

The controversial ‘double Irish’ tax mechanism was never part of the Irish tax code and was not a viable way of building a sustainable economy, says Minister for Finance Michael Noonan.

Speaking at a major tax conference organised by the Institute of International and European Affairs, Mr Noonan, said the ‘double Irish’ created uncertainty about Ireland’s tax system and that is why the decision was taken to abolish it in October’s budget.

The complex tax mechanism was a vital cog in aggressive tax planning by multinationals, such as Apple, that enabled them to avoid paying billions in tax.