Large multinationals to face corporation tax hike to 15%

Finance minister Michael McGrath said a top-up tax of 2.5% will be applied to companies with a turnover of €750m.

Corporation tax on large multinational companies is to increase to 15% from the beginning of next year, the Finance Minister has confirmed.

Michael McGrath has said a top-up tax of 2.5% will be applied to companies with a turnover of €750m or more to bring Ireland in line with other countries.