Google And Facebook Welcome Deal By World Leaders To Tackle Corporate Tax Avoidance By Big Tech Companies
They've backed a global minimum rate of at least 15 percent - the proposals have to be approved by the OECD before coming into effect
The Finance Minister's told the Irish Times he'll continue to argue for Ireland's 12.5 percent rate in negotiations with EU member states and the US.
Paschal Donohue says the country could lose up to a fifth of its corporate tax revenue.
But Conall MacCoille, Chief Economist at Davy, says we'll still be an attractive destination for foreign direct investment:
"I know people will be cynical but there are other reasons multi-nationals are here apart from tax. Being in the single market is one of the key ones. Britain is no longer in the single market so that's going to be, you know, a big negative for one of our key competitors for foreign direct investments. Also the UK is putting its rate of 25%. The US is also planning to increase its rate."
More from Cork
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Lord Mayor Of City Felt Privileged To Represent Cork During Such A Difficult Time As He Faces Into Last Month In Office
Councillor Joe Kavanagh will be handing over the mayoral chains outside of City Hall for the first time ever on June 18th due to the pandemic
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Expert calls for people to reduce meat intake
Eating too much meat can increase the risk of serious illnesses by as much as 30%.
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International Care Day Is Being Celebrated At The Bessborough Centre In Blackrock Today
The event highlights the positive impact of the experience of young people in care
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UPDATE: Teenage Girl Killed And Three Teenage Boys Injured In Knocknaheeny Crash
It's understood the teenage driver of the car fled the scene on foot
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Angry Farmers To Stage Protest Outside Aldi in Mitchelstown Later
They're appealing to retailers to come to the talks table
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UPDATE: Toddler Who Was Injured At Her Home On The Boreenmanna Road Has Died
The two year-old was rushed to hospital with traumatic head injuries