Noonan takes fight to France over corporate tax

FINANCE Minister Michael Noonan took the fight over corporation tax to France when he said its attempts to increase Ireland’s rate were perverse.

In a challenge to French President Nicolas Sarkozy, the minister revealed that the French rate of 34% was cut to a little more than 8% for most companies, thanks to generous allowances and opt-outs.

The Chartered Accountants Ireland warned that the debate was damaging the country as clients ask how long the country’s 12.5% tax rate would continue.