France has hailed Ireland’s corporate tax about-turn as an example to others, as it struggles to get Poland to back a 15pc minimum rate for multinationals. French finance minister Bruno Le Maire said he wished Warsaw would “look to that Irish example”, referring to the Government’s climb-down last year on its 12.5pc corporate tax rate. The deal will affect around 1,600 companies in Ireland, including 56 domestic firms, according to the Department of Finance. In a testy exchange at a meeting of the bloc’s 27 finance ministers on Tuesday, Mr Le Maire said he was “not convinced” by Poland’s argument, calling it a “mystery”. The US, which is key to any deal, has now said it wants to increase the minimum tax on US multinationals’ foreign income to 20pc, rather than the 15pc that was agreed at global level.

Source: Irish Independent April 05, 2022 21:42 UTC