Action plan targets Ireland’s low corporate tax regime

Ireland’s carefully constructed corporate tax regime — credited with making the country a magnet for multinational companies — could be deconstructed within 24 months under an action plan being released today.

Politicians and business bodies have warned that changes to the tax system could threaten the 150,000 jobs generated by the 1,000 multinationals here, and affect 90% of exports worth €160bn to the economy.

However, as austerity bites, governments in many of the world’s biggest economies are eyeing countries like Ireland whose tax systems help some of the globe’s biggest enterprises to pay little or no tax.