Ireland will need to build coalition of small states to push back G7 tax plan

UK Foreign Secretary Dominic Raab, sits between the Canadian Minister of Foreign Affairs Marc Garneau and Japanese Minister of Foreign Affairs Motegi Toshimitsu, during talks at the G7 Foreign and Development Ministers meeting at Lancaster House in London last month. 

Ireland will have to build some sort of coalition of small states to push back against the G7 plan to overhaul global tax, experts have said.

The Group of Seven of the most powerful western economies (the US, Japan, Germany, France, UK, Italy, and Canada) struck an agreement on Saturday to promote a new way of taxing multinationals. It aims to upend a global tax regime that has underpinned Ireland’s prosperity for decades.