Ireland faces jobs exodus over global minimum tax

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More than 100,000 high-value foreign direct investment (FDI) jobs are at risk if Ireland loses control of its 12.5pc corporate tax rate, according to the representative group for the main accountancy bodies in Ireland.

n an impassioned consultation submission to the Department of Finance, the Consultative Committee of Accountancy Bodies – Ireland (CCAB-I) said there was “no clear solution to the dilemma facing Ireland” and that the country will suffer “substantial” economic and social damage if a global minimum tax is agreed and implemented.

The CCAB-I’s grim assessment of a G20 plan to set worldwide corporate taxes to at least 15pc lays out a nightmare scenario for the Irish Government, which will soon have to decide whether to go along with other countries in supporting proposals to reform the way the world’s biggest companies are taxed.

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