Richard Bruton
Question:277 Mr. R. Bruton asked the Minister for Finance the proposals, if any, he has developed in relation to the taxation of financial institutions in view of the proposed reduction of corporation profit tax. [19171/97]
Written Answers. - Corporation Tax.
As the Deputy is aware, the Government is committed to introducing a single low rate of corporation tax for trading profits. This will be phased in over the coming years to eventually replace the current regime. The precise details of the new regime, including its accommodation within the overall budgetary arithmetic and any targeted revenue raising measures required to fund the tax reductions, have yet to be decided by the Government. These detailed aspects are currently under examination by officials from my Department, the Department of Enterprise, Trade and Employment and the Revenue Commissioners.