The promised 15 per cent minimum effective corporation tax rate for large multinationals is on the home stretch. Minister for Finance McGrath is planning to run draft legislation by his cabinet colleagues this week along the lines detailed in a 149-page public consultation document released last Friday. Translating internationally-agreed rules into Ireland’s next budget will be the final step in implementing Pillar Two of the October 2021 worldwide deal brokered by the OECD. The approach adopted by Ireland is to leave the standard corporation tax rate unchanged at 12.5 per cent and apply a qualified domestic top-up tax (QDTT) to…

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