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ICAI Meets Finance Minister in pre-Budget Process

A CCAB-I delegation met with the Tánaiste and Minister for Finance on Monday 15 October last to discuss our pre-Budget submission.

The meeting focused on:

  • Extending the “prior year” rule for the payment of preliminary Corporation Tax to all companies, not just those with liabilities in the prior year of €150,000 or less.
  • Improvements to the Holding Company regime.
  • Interaction with Revenue in the context of audits and investigations.

We took the opportunity to highlight to the Minister the work being done on the Northern Ireland Corporation Tax Rate campaign, and our support for Ireland's opposition to the CCCTB. The Minister spoke at some length on the CCCTB issue and in particular commented on the necessity for business interests to be more involved in the debate.

The CCAB-I Pre Budget Submission was reproduced at Section 2.01 of the October issue of tax.point.

Minister Cowen published the Pre-Budget Outlook on Thursday, 18 October. The Pre-Budget Outlook sets out the revised economic and budgetary forecasts covering the period 2007–2010 and is available from the Department of Finance website.