Ireland - Considering BEPS in Irish context 

June 3:  Ireland’s Department of Finance in late May 2014 launched a public consultation on “BEPS”—the OECD’s Base Erosion and Profit Shifting project—in an Irish context and what this could possibly mean for the future of Ireland’s tax regime.

The Irish consultation restates Ireland’s commitment to remain an attractive location to do business and to remain competitive internationally in attracting global business.

The context for this consultation highlights that the objective of the OECD BEPS project to align taxing rights with substance and activity may provide potential opportunities for Ireland to become a hub for centralising international business operations. Remaining competitive will mean that Ireland will also need to protect its tax reputation into the future.

The consultation acknowledges the active engagement of Irish stakeholders in the OECD BEPS project—both in direct response to submissions to the OECD and in feedback given in consultations which Irish government has held with various business representative bodies. This public consultation seeks to broaden this debate to other stakeholders.

The consultation also seeks to reframe the discussion on Ireland’s tax policy to broaden it beyond the immediate horizon of the OECD BEPS project and its specific actions and to take soundings on the matters that Ireland should regard as priorities for the future. The consultation period is eight weeks, closing on 22 July 2014.

Read a May 2014 report prepared by the KPMG member firm in Ireland: Irish context for OECD Base Erosion & Profit Shifting (BEPS)

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