Minister for Finance Paschal Donohoe outside government buildings this morning

This afternoon.

Merrion Street, Dublin 2.

The cabinet will discuss whether Ireland should sign up to global corporation tax reforms that will see our ‘cherished’ 12.5% rate increased to 15%.

The deal brokered by the OECD offers little choice.

Via RTÉ:

The plan proposes changes to where companies would pay their taxes, that the Department of Finance has estimated could reduce Ireland’s tax take by €2bn a year.

The 12.5% tax rate has been a cornerstone in Ireland’s successful foreign direct investment offering for decades and has been fiercely defended by successive governments.

While it accepted parts of the plan governing where companies should pay their tax, it objected to the reference to a global minimum tax rate of “at least 15%” being included in the plan, arguing it created uncertainty because the phrasing would mean the rate could be increased further at a later date.

Donohoe says he is expecting revised corporation tax proposals (RTÉ)

RollingNews

This afternoon.

Government Buildings, Dub;in 2.

European Commissioner for the Economy Paolo Gentiloni with Minister for Finance Paschal Donohoe…

Via RTE:

When asked what would the implications be for Ireland if it did not join the global tax agreement next month, the EU Commissioner said that countries have the right to make their own decisions and he did not want to speculate on scenarios that could be avoided.

Paolo Gentiloni said it is in the interests of the Irish economy to have a stable, predictable and fair global system without any loss of the possibility of competition on tax regimes.

“Of course it is in the interest of the global community of the European Union, of the US to reach this agreement. But at the end of the day I think it’s also in the interest of the Irish economy,” he stated.

Leave the gun.

Take the cannoli.

EU Economy Commissioner confident Ireland will sign up to new tax deal (RTÉ)

Earlier: A Limerick A Day

Sam Boal/RollingNews