Public Consultation - New Taxation Measures to apply to Outbound Payments

The Minister for Finance, Paschal Donohoe T.D., launched a public consultation seeking stakeholder views on the introduction of New Taxation Measures to apply to Outbound Payments. The consultation period runs from 5 November 2021 to 20 December 2021.

This consultation delivers on the below commitments in the Update to Ireland’s Corporation Tax Roadmap:

• Commitment 6 - Consider additional defensive measures in respect of countries on the EU list of non-cooperative jurisdictions, and
• Commitment 7 - Consider broader actions that may be needed in respect of outbound payments.

The consultation is also said to deliver on milestones set out in the National Recovery and Resilience Plan to limit opportunities for aggressive tax planning. One of these milestones is to conduct a public consultation during 2021, seeking stakeholders' views on aspects of these measures to prevent double non-taxation in relation to outbound payments, with a view to developing and introducing legislation.

A Department of Finance press release invites interested stakeholders to share their views on the issues detailed in the public consultation document, which will inform the development of legislation to be introduced in Finance Bill 2022 or 2023.

Members who wish to contribute towards the CCAB-I submission on the consultation can email tax@charteredaccountants.ie.