The Department of Finance launched a public consultation on the OECD Base Erosion and Profit Shifting (‘BEPS’) Project in May. According to the press statement, the Minister for Finance now wishes to consider options for Ireland’s tax system to respond to a changing international tax environment. The consultation document notes that this is the next step in a process already underway by the Irish authorities with business groups, which includes Chartered Accountants Ireland.

The consultation will run until 22 July and interested parties are invited to submit their views on how Ireland’s domestic tax system might best respond to international tax changes. Chartered Accountants Ireland, as a member of CCAB-I, will be responding to this consultation and we will report on this matter further in the August issue of tax.point.