In principle, the corporation tax reform to be included in next month’s budget is very simple: Ireland’s headline corporation tax is 12.5 per cent. The international agreement brokered by the OECD two years ago states in its Pillar Two section that multinationals with more than €750 million in worldwide revenue must pay at least 15 per cent corporation tax in each country where they operate. Some 138 countries have agreed that this should apply from the 2024 accounting year, and the European Union has confirmed this as a legal obligation in a directive. So, Budget 2024 is the deadline to…

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