• Farrell & Farrell

ROI: Ireland to embrace a 15% Corporation tax rate for large companies

Ireland have been under the spotlight to embrace the OECD’s global minimum rate of corporation tax. More than 100 countries supported the initial OECD proposals when they were announced in July this year. However, Ireland did not sign up at that time objecting to the wording of the proposed rate increase.


Ireland has fought hard for many years to retain its trading corporation tax rate of 12.5% which has contributed greatly to Ireland’s success. This announcement means that the rate of corporation tax will increase from 12.5% to 15% for super large businesses with a turnover of more than €750m. No rate changes for the SME sector.


Finance Minister Pascal Donohoe has said that backing the deal was “a serious and complex decision” and he added he was absolutely certain that Ireland’s interests were served being part of the deal. The 15% rate will apply to 56 Irish multinationals employing approximately 100,000 people, and 1,500 foreign-owned firms based in Ireland employing approximately 400,000 people.




2 views0 comments

Recent Posts

See All

ROI CGT Deadline 15 December 2021

If you have made disposals of chargeable assets between 1 January 2021 and 30 November 2021 and realised a chargeable gain, any Irish CGT arising on that gain must be paid on or before Wednesday, 15 D

ROI National Minimum Wage Increase

The ROI NMW will increase with effect from 1 January 2022. The rates for the various groups of workers can be viewed in the following attachment. It is advisable to review all payroll records to ens

Extension of Irish Pay & File Deadline

Irish Revenue have today announced that due to the current Covid-19 developments in Ireland, the ROS Pay & File deadline for Income tax year 2020 has been extended to Friday, 19 November 2021 at 5:00p