Corporation tax in the UK is set to rise to 25pc in 2023 the Chancellor of the Exchequer, Rishi Sunak, has announced in his budget speech. The corporation tax rate here is 12.5pc. Dermot O’Leary, chief economist at Goodbody Stockbrokers, said the decision by the UK to increase its rate of corporation tax will help Ireland. Mr O’Leary also pointed to the “stability” of the corporation tax rate here, where the 12.5pc rate has been in place since 2003. “Ireland has maintained the stability of its tax regime as well, and today’s announcement in the UK just shows that there’s an instability there, and firms we know like stability in tax regimes.

Source: Irish Independent March 03, 2021 13:30 UTC