Cross-party MEPs demand single corporate tax rate

Ireland’s low corporate tax level of 12.5% should be doubled to 25% as part of a common rate across Europe, a cross-party group of MEPs said today.

They tabled a motion in Strasbourg demanding progress towards a single rate of corporate tax “considering that European taxpayers and citizens have to take a major risk in order to stabilise a financial system which has been profiting from the exceptionally low Irish corporation tax rate of 12.5%”.