Deloitte comments on Spring Economic Statement
Commenting on the Spring Economic Statement, announced today, Tom Maguire, Partner, Tax Policy and Technical Services, Deloitte commented:
“The minister reiterated the Government’s absolute commitment to keeping the corporation tax rate at 12.5 per cent, calling it a ‘red line’ for the Government. Ensuring a steady approach to recovery will be key principles underpinning this. It’s often mentioned in budgetary processes and taxation matters, but always rings true – the devil is in the detail and as always this will be revealed in Budget 2016 and the Finance Bill.
“The Minister noted in his statement that the international rules governing tax policies are changing. In particular, the ongoing BEPS process currently being undertaken by the OECD, is one that Ireland will need to keep a close eye on, as this will affect future Finance Bills. Steady as she goes, with a watching brief on important international developments, is where Ireland now stands.”
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