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Corporation Tax

Budget 2020 is the ideal time to reform how Ireland does corporate taxation. At present, too many firms get away with paying low effective rates or availing of overly generous subsidies or tax holidays. Our Budget 2020 submission, published in June, contains numerous proposals to improve matters.

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The local and European elections threw up a variety of diverse issues many of which seem to be at odds with each other.  Concerns among voters about the impact of climate change and about the future of agriculture and livelihood of farmers may seem incompatible at first glance, but yet they are both very important issues to different sectors of society.  What these elections remind us is that a comprehensive policy framework is required to make progress on these issues and deliver a better future for everyone.

Large multinationals are paying significantly lower tax rates than they were before the financial crisis. Companies’ effective tax rates have fallen 9 per cent over the last decade, despite some efforts by politicians to tackle aggressive tax avoidance.

Social Justice Ireland recommends a Minimum Effective Rate of 6 per cent. This would only affect companies who are currently availing of effective rates lower than that on a regular basis; something that is quite unacceptable.