Ireland dropped its opposition to an overhaul of global corporate tax rules on Thursday (7 October), agreeing to give up its prized 12.5% tax for large multinationals in a major boost to efforts to impose a minimum rate worldwide.
US Treasury Secretary Janet Yellen urged Paschal Donohoe, the finance minister of Ireland, to take a "once in a generation opportunity" for a global deal that would stop a race to the bottom on corporate tax rates, the Treasury said.
Ireland will not support global tax reform plans, Finance Minister Paschal Donohoe insisted Thursday (15 July), entrenching its hold-out position as momentum builds for a deal meant to ensure multinationals pay a fair share.
A total of 130 countries have agreed a global tax reform ensuring that multinationals pay their fair share wherever they operate, the OECD said on Thursday (1 July), but some EU states refused to sign up.
Paul Tang has been elected chair of the new permanent tax subcommittee the European Parliament has created. In an interview with EURACTIV, the Socialist MEP said one of his key goals is to "crack down on tax avoidance", and he therefore wants to strengthen ties with national parliaments and get them involved in the fight against fiscal dumping in the EU.
Eurozone finance ministers are split on whether to pick their Spanish colleague Nadia Calviño or Ireland’s Paschal Donohoe as the next Eurogroup president during a videoconference on Thursday (9 July), EU sources and diplomats told EURACTIV.com.
Ministers Nadia Calviño (Spain), Paschal Donohoe (Ireland) and Pierre Gramegna (Luxembourg) will compete for the Eurogroup Presidency. While Calviño could become the first woman to chair the body, her colleagues promised to become ‘bridge builders’ between the different positions.
The deadline for eurozone finance ministers to put forward their candidacy to chair the Eurogroup ends on Thursday (25 June), with no official contenders yet, although Spain’s Nadia Calviño, Ireland’s Paschal Donohoe and Luxembourg’s Pierre Gramegna are seen as leading the race.
Ireland’s concerns over how the European Union should proceed with taxing large digital businesses are shared by a growing number of countries, Finance Minister Paschal Donohoe said on Monday (5 February).
Ireland's finance minister said the European Commission's demand that Dublin collect up to €13 billion in back taxes from Apple was unjustified, in an interview with Germany's Frankfurter Allgemeine (FAZ) newspaper.