There are ongoing discussions at the OECD on further reforms to the international corporate tax system. Some countries have raised the issue of minimum effective corporate tax rates in that context.
I recently had the opportunity to discuss the OECD work with some of my EU counterparts on the margins of last week’s Eurogroup, and there was a more in depth discussion at ECOFIN, where I was represented by Minister D’Arcy.
It was agreed at the ECOFIN that the various OECD tax proposals should continue to be discussed at EU level to try and identify common areas of interest or concern. The regular taxation working parties have been mandated to explore possible areas of EU convergence, and will update ECOFIN on a regular basis.
Discussions with our fellow EU Member States are important in terms of refining our understanding and maximising our contribution to the debate at OECD. We also need to explore how the various proposals at OECD may impact EU law.
There are a variety of views at the OECD table and the eventual outcome will need to strike a balance to reflect these differing perspectives. Ireland is actively engaging in this work. It is in all countries interests to reach agreement that provides stability and certainty into the medium term.