EU plans for common corporate tax 'could destroy Ireland's tax take'

The European Commission's plans to introduce a Common Consolidated Corporate Tax Base (CCCTB) across the European Union could destroy Ireland's tax take, UCC economist Seamus Coffey has warned.

Speaking before the Oireachtas Finance Committee on the proposals, Coffey said: "It is not unduly pessimistic that Ireland cold lose up to 50% of our current corporation tax base if the CCCTB is to be introduced."