IRELAND TO JOIN PUSH FOR FLOOR OF 15% TAX ON CORPORATE PROFITS

Ireland is ready to sign up to a proposed global agreement for a minimum tax on companies, a climbdown that removes one hurdle to an unprecedented deal that would reshape the landscape for multinationals. On the eve of a key meeting between 140 countries hosted by the Organization for Economic Co-operation and Development, the Irish government said it will join the push for a floor of 15 per cent levied on profits of corporate entities. “This agreement is a balance between our tax competitiveness and our broader place in the world,” Irish Finance Minister Paschal Donohoe, pictured, said Thursday. The decision “will ensure that Ireland is part of the solution in respect to the future international tax framework.” Ireland’s shift is only one of several awaited from holdouts on a wide-ranging global deal.