Ireland will make the case for the role of legitimate tax competition, Irish finance minister Paschal Donohoe said after the Group of Seven advanced economies agreed on a minimum global corporate tax rate of at least 15 per cent.
“Today is an important sign post,” Mr Donohoe said. “It does have consequences for the future of corporate tax policy across the world, but in the process that is to come, I’ll be making the case for the role of legitimate tax competition,” he told reporters in London, adding that he will be engaging “constructively” with the Organisation for Economic Cooperation and Development and US Treasury Secretary Janet Yellen.
Any international agreement on how companies are taxed will need to meet the needs of “small and large countries, developed and developing”, Mr Donohoe said in am earlier tweet, noting that there are 139 countries in the OECD's negotiations on tax policy.
Ireland has a corporation tax rate of 12.5 per cent, which it has staunchly defended, even in the face of criticism from larger European countries. Tax competition is a legitimate tool for small countries, which may not have the same advantages as big ones, Mr Donohoe argued in April.
Changes to tax rules could result in Ireland losing up to a fifth of its corporate tax revenue, Mr Donohoe said, though this is already accounted for in medium-term budget calculations. Projections show the Irish economy returning to “a position of fiscal balance in the coming years”, even with a drop in corporate tax revenues, he added.
“We still have some time to go up to the OECD process and even then when the OECD process concludes, the actual agreement then has to be implemented,” he said.
The government is also looking at other policy areas to ensure that Ireland continues to remain a “very, very attractive place for domestic enterprise to flourish and for international investmen,”, Mr Donohoe added.
Ultra processed foods
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;
- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.
UK-EU trade at a glance
EU fishing vessels guaranteed access to UK waters for 12 years
Co-operation on security initiatives and procurement of defence products
Youth experience scheme to work, study or volunteer in UK and EU countries
Smoother border management with use of e-gates
Cutting red tape on import and export of food
The line up
Friday: Giggs, Sho Madjozi and Masego
Saturday: Nas, Lion Bbae, Roxanne Shante and DaniLeigh
Sole DXB runs from December 6 to 8 at Dubai Design District. Weekend pass is Dh295 while a one day pass is Dh195. Tickets are available from www.soledxb.com
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UAE currency: the story behind the money in your pockets
The stats: 2017 Jaguar XJ
Price, base / as tested Dh326,700 / Dh342,700
Engine 3.0L V6
Transmission Eight-speed automatic
Power 340hp @ 6,000pm
Torque 450Nm @ 3,500rpm
Fuel economy, combined 9.1L / 100km
The Farewell
Director: Lulu Wang
Stars: Awkwafina, Zhao Shuzhen, Diana Lin, Tzi Ma
Four stars
BUNDESLIGA FIXTURES
Saturday (UAE kick-off times)
Cologne v Union Berlin (5.30pm)
Fortuna Dusseldorf v Borussia Dortmund (5.30pm)
Hertha Berlin v Eintracht Frankfurt (5.30pm)
Paderborn v Werder Bremen (5.30pm)
Wolfsburg v Freiburg (5.30pm)
Bayern Munich v Borussia Monchengladbach (8.30pm)
Sunday
Mainz v Augsburg (5.30pm)
Schalke v Bayer Leverkusen (8pm)
Match info
Uefa Nations League A Group 4
England 2 (Lingard 78', Kane 85')
Croatia 1 (Kramaric 57')
Man of the match: Harry Kane (England)
'Avengers: Infinity War'
Dir: The Russo Brothers
Starring: Chris Evans, Chris Pratt, Tom Holland, Robert Downey Junior, Scarlett Johansson, Elizabeth Olsen
Four stars
UAE currency: the story behind the money in your pockets
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong
Rating: 4.5/5
MATCH INFO
Newcastle 2-2 Manchester City
Burnley 0-2 Crystal Palace
Chelsea 0-1 West Ham
Liverpool 2-1 Brighton
Tottenham 3-2 Bournemouth
Southampton v Watford (late)
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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The Birkin bag is made by Hermès.
It is named after actress and singer Jane Birkin
Noone from Hermès will go on record to say how much a new Birkin costs, how long one would have to wait to get one, and how many bags are actually made each year.
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
'I Want You Back'
Director:Jason Orley
Stars:Jenny Slate, Charlie Day
Rating:4/5
Specs
Engine: 2-litre
Transmission: Eight-speed automatic
Power: 255hp
Torque: 273Nm
Price: Dh240,000
