Finance Minister Michael Noonan hammers EU tax plan for hurting ‘consensus’

Finance Minister Michael Noonan has stepped up the Government’s campaign against Brussels’ plan for a new common corporate tax regime saying the proposal will endanger the international “consensus” on ways to tax multinationals.

Speaking at a Government-commissioned conference on developing countries, called Corporate Tax: Fairness, Responsibility and Leadership, Mr Noonan said the Commission’s plan for a common consolidated corporate tax base would insist on public reporting of tax on a country basis which countries outside the EU oppose.

He said Ireland had signed up to and supported the initiative called Beps — base erosion and profit sharing — driven by the Organisation for Economic Co-operation and Development (OECD).