About: http://data.cimple.eu/news-article/d105f8599ccd3275f6a4404cca18ae86de5618e2edd5ed6dea6257ab

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About: http://data.cimple.eu/news-article/d105f8599ccd3275f6a4404cca18ae86de5618e2edd5ed6dea6257ab Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Ireland's government on Wednesday forecast an annual hit of two billion euros ($2.4 billion) in lost revenue if US-led plans to enact a global minimum rate of corporation tax reach fruition. "The developments with Covid-19 have accelerated the progress towards new rules on global tax policy," finance minister Paschal Donohoe told reporters. "In terms of the impact that will have on our revenue forecasts, we are modelling in a half a billion euro loss per year from next year onwards, with that loss reaching two billion euro per year," he said. The two billion drain on government coffers would take effect from 2025 if a new global minimum rate of corporation tax is enforced, according to new finance ministry projections. Earlier this month US Treasury Secretary Janet Yellen began a push to reverse what she called "a 30-year race to the bottom on corporate tax rates". Last week she announced Washington would push the G20 for an agreement on a global minimum corporate tax to halt the erosion of government revenues, and the group is expected to unveil a proposal by July. Ireland relies heavily on receipts from its 12.5-percent corporation tax rate to fund government spending, and hosts an outsized number of technology and pharmaceutical firms. jts/jit/tgb
schema:headline	Ireland fears EUR2bn annual hit under global corporate tax reform
schema:mentions	United States Secretary of the Treasury Erosion Republic of Ireland Corporate tax Easter University of Washington G20 Coronavirus disease 2019 Janet Yellen Healthcare in Iran Maxima and minima
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-04-14 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	82 (xsd:integer)
http://data.cimple...tology#hasEmotion	fear

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