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Ireland faces economic uncertainty with OECD reforms

Tuesday, July 13, 2021


This framework laid out two pillars of reform. Pillar One would see large companies liable for tax in the end-market jurisdiction where their goods or services are used or consumed. Pillar Two would set a minimum tax rate of 15%.


  • Ireland will probably support the reforms by October, and in return it may get some concessions over implementation or sectoral coverage.
  • Reduced corporate tax revenue may result in tighter fiscal spending, which would play into the hands of the opposition Sinn Fein.
  • The corporate tax proposals come at a particularly bad time for the Irish economy, which is already facing the consequences of Brexit.

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