Last month, Finance Minister Paschal Donohoe published Ireland’s Corporation Tax Roadmap. It outlines the actions Ireland has taken to date and the further actions that will be taken over the coming years, in light of the changing international tax environment.

The roadmap outlines the important further action that Ireland is taking as part of international tax reform, including commitments that:

• Legislation will be introduced in Finance Bill 2018 to introduce Controlled Foreign Company (CFC) rules with effect from 1st January 2019;
• The final legislative steps required to allow Ireland to complete the ratification of the BEPS Multilateral Instrument will be taken in Finance Bill 2018;
• Legislation will be introduced in Finance Bill 2019 to introduce anti-hybrid rules, update and expand Ireland’s transfer pricing rules and fully implement the sixth EU Directive on Administrative Co-operation (DAC 6).

The Roadmap also addresses the intention to hold further consultation processes on a range of issues including the technical design of complex Anti-Tax Avoidance Directives (ATAD) measures and the Coffey Review recommendation to consider the potential impacts of moving to a territorial tax regime.

The Roadmap includes consideration of responses received to the Department’s consultation on the recommendations made in the Review of Ireland’s Corporation Tax Code, undertaken by Mr Seamus Coffey, and the implementation of the ATAD.