Report could mean big firms pay more tax

Multinationals will end up paying more tax if recommendations in a high-level review of Ireland’s tax regime are adopted, according to the head of tax at Chartered Accountants Ireland.

Director Brian Keegan said specific proposals in the review by economist Seamus Coffey for the Department of Finance on capital allowances for companies holding intellectual property in Ireland could lead to multinationals paying more tax.

Other recommendations in the report that touch on transfer pricing between companies could affect both foreign and Irish-owned companies by adding to the burden of paper work, said Mr Keegan.