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Ireland follows the existing tax regulations

Ireland follows the existing tax regulations Street Ireland

The Irish Government has proposed that the tax authorities carried out a full review of tax decisions every five years.

In a statement to the Dáil Éireann, the lower house of Parliament on 7 September 2016, Finance Minister Michael Noonan said that the tax authorities will amend the relevant guidance and regulations that will ensure that tax regulations are to remain in force for five years without a full review.

Noonan added that the income will be published in its annual report the number of inmates each year, so as to fully ensure the confidentiality of the taxpayer.

The announcement was made shortly after the conclusion of the European Commission have been made that the two tax rulings issued by Apple Ireland significantly and artificially lowered the taxes paid by Apple in Ireland since 1991. Irish Parliament endorsed the government’s motion to appeal against the Commission’s decision – 14 of September.

In a statement, Noonan said that “a reaction to the decision of the Commission has, at times, an outdated and unfair caricature the position of Irish tax. It is a caricature that is contrary to the evidence in recent years. The facts show our constructive engagement of the international table, with incomparable implementation reform ahead of many of our partner countries.”

Noonan added: “Reputation is not only important for Ireland’s position in the world and our ability to interact with other countries mutually respectful way. Reputation as a proxy for confidence. Creating our tax system around the policies and principles which are recognized best practices at the international level, we are able to provide stability and confidence in the fact that the business at home and abroad will be in demand.”

Author: Olena Kutova
senior lawyer of the Finance Business Service company
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