Irish Minister for Finance, Michael McGrath, is consulting (until 8 May 2023) on the Irish government’s ‘Feedback Statement’ on implementation of the EU Minimum Tax Directive (in line with Pillar 2). The statement sets out the Irish government’s proposed legislative approach (and indeed, the actual draft legislation itself) covering broad principles together with detailed rules around administration. On its proposed approach to administration (at para 4.1) the government says: ‘The administration of the GloBE rules and the associated top-up taxes will be kept separate to the existing corporation tax regime.’
In its discussion of a qualified domestic top-up tax, the statement notes: ‘As Ireland’s 12.5% trading rate of corporation tax is below the agreed 15% minimum effective rate, it is considered appropriate for Ireland to elect to introduce a QDTT as part of the Pillar Two implementation process.’
Irish Minister for Finance, Michael McGrath, is consulting (until 8 May 2023) on the Irish government’s ‘Feedback Statement’ on implementation of the EU Minimum Tax Directive (in line with Pillar 2). The statement sets out the Irish government’s proposed legislative approach (and indeed, the actual draft legislation itself) covering broad principles together with detailed rules around administration. On its proposed approach to administration (at para 4.1) the government says: ‘The administration of the GloBE rules and the associated top-up taxes will be kept separate to the existing corporation tax regime.’
In its discussion of a qualified domestic top-up tax, the statement notes: ‘As Ireland’s 12.5% trading rate of corporation tax is below the agreed 15% minimum effective rate, it is considered appropriate for Ireland to elect to introduce a QDTT as part of the Pillar Two implementation process.’
