Corporate tax: Ireland’s version of Norwegian oil

Irish Times | Dec 5, 2021 at 1:04 PM
  • Back in the 1980s, Norway was having the same conversation as we’re having now, namely what to do with excess revenue from a certain sector.
  • Even with the Government’s predicted €2 billion-a-year loss from the OECD-brokered changes, which include new global minimum rate of 15 per cent, the Department of Finance expects revenue from the business tax to keep on rising to €15 billion by 2025.
  • The council recommended the Government “allocate any further excess”, including increases due to the rise in the minimum corporation tax rate to 15 per cent, to a new rainy day fund.