Monday, October 18

Corporation tax not under EU pressure


 

 

Minister for Finance Michael Noonan has said there is no pressure on Ireland from Europe to change its tax laws or to alter the tax incentives for companies to invest in Ireland.

Speaking at an event in Limerick marking the announcement by the US IT firm WP Engine that it is to set up a Limerick base with 100 new jobs, Mr Noonan said the EU recognises the right of sovereign governments to set their own tax rates.

He said Ireland’s corporation tax rate of 12.5% is well known now, and in case there is any doubt about it he will be confirming it in Budget 2017 in two weeks.

Speaking on the budget, he said it is one of the big issues facing the new Dáil and TDs are finalising matters on it now.

He said there are lots of different inputs, including from three independent ministers, as well as the Fine Gael parliamentary party, and Fianna Fáil supporting it from outside.

However, he said at this stage there does not seem to be conflict around Budget 2017 and he is confident he will put a good budget through.

Asked if it was his desire to stay in Cabinet until the next election, Mr Noonan said he did not know when the next election will be and he was being asked to commit to a target which nobody knew yet.

He said he was given a job to do, and he is doing that and will continue to do it.