Hit of €2bn to exchequer revenues from global tax accord 'still best estimate for now'

Paschal Donohoe tells Oireachtas finance committee the new minimum rate will be applied evenly across Europe

Minister for Finance, Paschal Donohoe: €2bn hit to the Irish exchequer is the best estimate at this time. 

Finance Minister Paschal Donohoe said he won’t revise the longstanding estimate that the Irish exchequer will take a €2bn hit in annual corporation tax revenues until key technical details of a global tax overhaul become much clearer.

Mr Donohoe also told the Oireachtas finance committee that Ireland bringing into force the new tax accord through an EU directive had the advantage that the rules would be evenly applied across Europe.