Minister for Finance, Paschal Donohoe, spoke to Morning Ireland on Friday, 11 June and noted that all is still to play for as other small open economies express tax sovereignty concerns on the political agreement reached by the G7 on a 15 percent global minimum corporation tax rate. Minister Donohoe said he is confident Ireland will continue to be an attractive location for FDI and will continue to compete with its 12.5 percent cornerstone corporation tax rate.

The Minister also noted that Facebook’s recent announcement that staff can work remotely overseas does not have any impact on Ireland’s tax residency rules for individuals and corporates. The Minister went on to say that he is considering information and data on a possible vacant site tax but noted that the information to inform that decision will not be ready in time for Budget 2022.