Ireland can’t just keep saying “no” on corporate tax reform. Having held out against European Union reform proposals for many years – supported by the UK – the writing is now on the wall. Change is on the way and this carries some danger for Irish tax revenues and the model of attracting US investment here. The scale of this threat is not yet clear and recent years have shown us how reform can sometimes benefit Ireland too. But such is the momentum now towards reform that, realistically, we have no option but to get on board
Minister for Finance Paschal Donohoe set out the strategy in an important speech during the week. The implicit point was that it is better for Ireland to be a participant in this process and “inside the room” when the big decisions are being made, rather than trying to stop the tide coming in.
So its over Folks - once the UK is out of the EU the Wolves will move in for the Kill...
Ireland will be told where the real Power lies when it comes to Tax raising powers
- and it wont be in Dublin.
Of course we will see fluff pieces galore [as in above] to prep the public for the inevitable change - how we must get on board and on message and stop being so selfish etc etc
The end result of course there will be no particular reason for any multinational to set up here in the 1st place
- as they wont be any better off setting up shop here over anywhere else in the EU
- so they wont.
We will end up like the North
- and Economic Protectorate of a more powerful political entity.