Paradoxically, Ireland is determined not to accept the tax windfall, which would be equivalent to what it spent last year on funding its struggling health service. Noonan said the retroactive nature of the EU ruling was “little short of bizarre and outrageous”. Public Expenditure Minister Paschal Donohoe said Dublin stood behind its corporate tax regime as a means of creating jobs. A FAIR RATE OF TAX The Independent Alliance, a group of five lawmakers, fell in line after the coalition agreed to conduct a review of what tax multinationals pay and what should they pay. It needs to change its own tax rules which, for example, allow companies to build up tax-free profits offshore.

Source: Sunday Times September 02, 2016 15:33 UTC