BUDGET 2016: Bid to shake off image of ‘Double Irish’ regime

Michael Noonan’s battle to maintain Ireland’s attractiveness for multinationals and at the same time reduce the pressure from other EU countries saw him set the new knowledge development box (KDB) tax rate at 6.5% — just half the corporate tax rate — from January.

This is significantly lower than Britain’s 10%, slightly lower than Belgium’s 6.9%, and higher than Luxembourg at 5.75% and the Netherlands at 5%.

This is the latest effort to lose the “slippery” image from the Double Irish regime that helped corporations escape any tax liability.