Paschal Donohoe unmoved on global tax deal after meeting with US counterpart

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Paschal Donohoe Unmoved On Global Tax Deal After Meeting With Us Counterpart Paschal Donohoe Unmoved On Global Tax Deal After Meeting With Us Counterpart
Paschal Donohoe meeting with US treasury secretary Janet Yellen on June 5th, 2021 in London. Photo: Alberto Pezzali/WPA Pool/Getty Images
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Minister for Finance Paschal Donohoe maintained his reservation about a global minimum corporate tax rate in a meeting with his US counterpart, treasury secretary Janet Yellen, a spokesperson for Mr Donohoe said.

“It was a good and constructive meeting which is part of an ongoing dialogue on the global corporate tax issue,” the spokesperson said after the meeting on Monday.

“Minister Donohoe recalled the Irish position on the matter,” the spokesperson added. The Republic has so far not endorsed the deal because of its opposition to a minimum tax rate of at least 15 per cent.

Meanwhile, job announcements from payments giant Stripe and cloud software provider Workday helped push employment growth among multinationals in the Republic back towards 2019 levels in the first six months of 2021, the State investment agency said.

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IDA Ireland said it had secured 142 investments with the potential to create 12,530 jobs so far this year, versus the 9,600 new jobs added in the same coronavirus-hit period last year. It added a record 13,500 jobs in the first half of 2019.

The State's economy is hugely reliant on multinational firms that employ around one-in-eight Irish workers and IDA Ireland boss Martin Shanahan said the country would continue to have a competitive offering in the face of a global corporate tax overhaul.

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