News Article - 25 April 2007
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Ireland has been lobbying against European Commission plans for an EU-wide consolidated corporate tax base.

According to the Irish Independent, the plans have caused Irish employers to become fearful that Germany and France will demand common corporate tax rates, which would see the countries become more competitive as investor centres.

Presently, Ireland has the lowest corporation tax of the 15 EU countries which made up the union before its expansion in 2004.

Laszlo Kovacs, the EU minister for taxation, announced the proposals last night to members of the Irish Bankers' Federation in Strasbourg, calling for the plans to come into effect by the end of next year.

He added that the commission would be presenting revised proposals next week.

Ireland has a corporate tax rate of 12.5 per cent and double taxation agreements with 44 countries. It also offers tax credits for incremental spending on research and development.

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