The €1 billion boost to the State’s coffers from the new 15 per cent minimum tax on multinationals recorded in July is the first confirmation of how much Ireland stands to benefit from Pillar Two of the OECD-sponsored global tax agreement. Of €1.3 billion in corporation tax collected last month, just €300 million came from companies that would have paid it without this agreement coming into effect. “July receipts included the first large tranche of receipts (c. €1 billion) from the Pillar II ‘top-up’ tax for large companies,” the Department of Finance reported on Thursday evening. On a year-on-year basis,…

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