U.S. corporate tax changes could materially impact Ireland: minister

[September 20, 2017]  DUBLIN (Reuters) - Corporate taxation developments in the United States could have material consequences for Ireland's low business tax regime and highlights the need to continue to offer a stable 12.5 percent rate, finance minister Paschal Donohoe said on Wednesday.

Paschal Donohoe speaks during an interview with Reuters at the Ministry of Finance in Dublin, Ireland September 22, 2016. REUTERS/Clodagh Kilcoyne

The White House is set to detail specific proposals for a corporate tax rate cut next week, although U.S. Treasury Secretary Steven Mnuchin has cast doubt on President Donald Trump's chances of cutting the rate to 15 percent.

"What is underway in the United States is something that we need to acknowledge is a development that could have material consequences for Ireland. As they debate what their tax code will look like for decades to come, there are real benefits that we offer something that is understood, certain and credible," Donohoe said in a speech.

(Reporting by Padraic Halpin; Editing by Catherine Evans)

[© 2017 Thomson Reuters. All rights reserved.]

Copyright 2017 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.