Pat the Cope Gallagher MEP has called on the Minister for Finance, Michael Noonan and the Tánaiste and Minister for Foreign Affairs and Trade, Eamon Gilmore to act decisively in response to today’s decision by the European Commission to publish a legislative proposal establishing a Common Consolidated Corporate Tax Base (CCCTB).
Pat the Cope Gallagher MEP today called on the Irish Government to establish a high level group to defeat the CCCTB proposal.
Mr. Gallagher stated today “the proposed sharing mechanism could lead to the effective harmonisation of rates for multi-national companies based in the EU as total taxable profits would be subject to a range of different EU tax rates based on the companies’ sales activities and locations.”
“Due to Ireland’s strained relationship with the EU at present, Ireland alone will be unable to defeat this proposal. It is crucial that Ireland is able to convince and persuade other EU Member States to veto this proposal.”
“I will vehemently oppose this proposal at every opportunity in the European Parliament. However, I believe that it is important for the Government to establish a high level group involving the Department of Finance and the Department of Foreign Affairs with the sole purpose of defeating this EU initiative on corporation tax. To be effective, the group must also involve MEPs from the different political parties in the European Parliament, the Irish Business and Employers Confederation, the US Chamber of Commerce and the Irish Institute of Taxation.”