The EU has launched a reinvigorated offensive against Ireland’s low corporate tax rate and has been fiercely rebuked by the government.
The EU Commission, the un-elected body that proposes legislation for the bloc, put forward a directive that would see member states lose their veto on matters relating to tax.
Finance Minister Paschal Donohue said in relation to the power grab by the EU elite
“Taxation is a sovereign member state competence and decisions at (European) Council on tax matters require unanimity,”
The EU has long sought to shift control of tax from elected national governments to un-elected bureaucrats within the EU but has encountered major opposition, particularly from Ireland.
Ireland has long enjoyed the support of the UK in its opposition to EU tax harmonisation but with Brexit the government will lose this influential ally.
The EU’s most dominant members, France and Germany have long sought to end Ireland’s low corporate tax rate and they look set to get their way as the EU pushes ahead with its plan for the ‘common consolidated corporate tax base’ (CCCTB) by 2025.
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