Joan Burton: Panama scandal ‘a wake-up call’ for Ireland

Acting Tánaiste Joan Burton has warned the Panama papers scandal is “a wake-up call” for Ireland, adding companies here must be forced to pay minimum tax rates in order to prevent the crisis from re-occurring.

In an email to party supporters and members last night, the Labour leader said Irish authorities must address the tax system “leak” and urgently consider reforms such as the introduction of minimum effective tax rates “to undermine the incentives for tax avoidance by wealthy individuals and firms”.

Ms Burton said at an international level Ireland must continue to support moves to close the tax “loophole” for companies, saying such actions would “ensure every individual pays a fair amount of tax” in the countries where they are based.