Kenny expected to defend corporation tax rate as 'matter of national sovereignty'

The Taoiseach is expected to strongly defend Ireland's 12.5% corporation tax rate tonight, calling it a "matter of national sovereignty".

Enda Kenny will address an IBEC event in Dublin, days after the OECD unveiled its recommendations on overhauling systems around the world.

They form part of an issue called BEPS (Base Erosion and Profit Shifting), in which multinationals use different tax regimes to reduce the rates they pay to extremely low levels.

Mr Kenny will tell the conference that BEPS is in line with Irish strategy, and we "are not a brass plate location", but one that wants "real investment, with real jobs".

He is expected to tell delegates that as international tax loopholes are closed, our low corporation tax rate will become even more attractive, offering us a great opportunity.

He will also once again insist that we are committed to our existing corporate tax rate.