In a recent letter to the Finance Minister Conor Murphy in response to the establishment of a Fiscal Commission in Northern Ireland, the Institute is offering its guidance and expertise to the Commission in the course of its work.

The Fiscal Commission was announced by the Minister on 12 March 2021 and has been established to conduct an examination of the fiscal powers of the Northern Ireland Assembly. Part of the Commission’s remit will also be to examine if a reduction in the rate of corporation tax in Northern Ireland can be implemented.

Prior to the Corporation Tax (Northern Ireland) Act 2015 receiving Royal Assent in 2015, Chartered Accountants Ireland worked vigorously for several years on a public campaign to devolve corporation tax raising powers to the Northern Ireland Assembly.

This Institute met with ministers in Northern Ireland and further afield, provided evidence to various Assembly and UK Government Committees and contributed to calls for evidence and consultations on this issue.

Chartered Accountants Ireland is also uniquely positioned to draw on its experiences of how a tax system is administered in a small open economy such as Ireland.

You can read the letter to Finance Minister, Conor Murphy in the Source Material section of this edition.