EU commissioner for economics: Ireland's low corporation tax 'not under threat'

The EU commissioner for economics has said that Ireland's treasured low corporation tax is "not under threat" and that Brussels "fully respects" our our tax sovereignty, writes Juno McEnroe.

EU commissioner for economics: Ireland's low corporation tax 'not under threat'

The EU commissioner for economics has said that Ireland's treasured low corporation tax is "not under threat" and that Brussels "fully respects" our our tax sovereignty, writes Juno McEnroe.

Speaking to reporters in Dublin this morning, commissioner Pierre Moscovici (pictured) said no member state can be overruled on tax sovereignty.

The EU "poses no threat" to Ireland's tax rate, he added.

The only way the 12.% rate could be changed was by the Irish people or government and there was "no capacity or will" to do this.

But the economics commissioner did say that plans for common consolidated corporate tax base tax (CCCTB) has a lot for Ireland.

While acknowledging there was disagreement with the Irish government on this, he said that the CCCTB measures, which some see as a harmonising of member state tax rules, could make Ireland “even more attractive to investors.”

Mr Moscovici will later appear before the Oireachtas Finance Committee where he will further answer questions about Ireland's tax rules and EU policy.

The commissioner though refused to address concern about a hard Brexit and what this might mean for tariffs on Irish goods.

He said negotiations with Britain on it leaving the EU had still to begin.

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