France to push for EU corporate tax harmonisation

IRISH government hopes of fighting off EU attempts to introduce a harmonised method for companies to calculate their tax was dealt a severe blow yesterday when France said it intends to push it during their presidency of the union.

Ireland fears such a move will result in the State losing tax it collects from multi-nationals and others that use the country because of its 12.5% tax rate.

French Economics Minister Christine Lagarde, at a tax conference in Brussels, said the debate on a common consolidated corporate tax base has been going on for a long time. “But this is one issue that we are determined to push,” she said.