Closing tax EU loopholes ‘will not affect Ireland’

EU laws to stop countries tax dumping should not affect Ireland and its multi-nationals, the chair of the Oireachtas finance committee has said.

Under the rules, every country will have to inform all other EU member states about the tax arrangements it makes with companies using so called tax rulings.

This will allow tax authorities to see if a company is evading tax though profit shifting by channelling money, for instance, through a company in Ireland.