Ireland faces losing €2bn in corporate tax under OECD reform

Dublin could lose up to €2bn of its corporation tax revenue under new proposals to reform the global tax system, minister for Finance Paschal Donohoe has warned. From 2022 onwards, with the implementation of new tax rules under the OECD's Base Erosion and Profit Shifting (BEPS) initiative there will be a reduction in corporation tax receipts by an incremental €500 million per year. While there is some uncertainty surrounding this figure, it is the department's best assessment, based on ongoing work being carried out by the Revenue Commissioners, that the overall risk could be in the r...