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Ireland, the low-tax European headquarters for a number of the
world's largest multinationals, has declined to sign up to the
Organisation for Economic Co-operation and Development (OECD)
deal backed by all bar a handful of countries involved.
Ireland chiefly opposed the introduction of a proposed minimum
global rate of "at least" 15%, and in particular the phrase "at
least" that it says would undermine the certainty its prized
12.5% rate has given companies for years.
"I'm hopeful and confident that we will be able to be part of
the solution here... I'm hopeful we will be able to sign up."
Environment Minister Eamon Ryan, who is also the leader of the
junior coalition Green Party, told national broadcaster RTE.
Ryan added that it was important for Ireland's reputation that
it ultimately joins the agreement. Ministers are due to decide
whether or not to back the deal on Thursday.
Agreement from Ireland, one of the countries that has benefited
most from low corporate taxes, would be a big boost for the
project to impose a minimum global rate. Multinationals like
Google, Facebook and Apple directly employ more than one in 10
Irish workers.
Deputy Prime Minister Leo Varadkar struck a similarly optimistic
note on Monday, saying the revised proposals responded "to a
lot, if not all" of Ireland's concerns.
Finance Minister Paschal Donohoe, who will recommend to cabinet
whether or not Ireland should sign up, said progress had been
made but further engagement was needed.
(Reporting by Padraic Halpin, editing by Ed Osmond)
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