Commission tries to ease Irish fears

THE European Commission has met a number of Irish fears over plans for a common consolidated corporate tax base (CCCTB) when it discussed the latest progress report on the plan.

But the Irish Banking Federation, the Irish Taxation Institute and IBEC, representing business, came out against the plan insisting that it paves the way for a harmonised tax rate across the EU and would reduce Ireland’s tax take.

The financial sector is not currently included in the proposal but is expected to be at some stage, the commission said.