Ireland now facing ‘increased competition’

Finance Minister Michael Noonan said Ireland has little to fear from attempts by the world’s richest countries to get multinationals to pay more tax, reiterating that the country’s headline 12.5% rate is not under threat.

However, some independent observers say Ireland will, in time, face more competition, and its success in attracting large foreign direct investments will remain under scrutiny.

The OECD yesterday issued its final report on ways to reform the global tax structures.