Ireland should feel under no moral obligation to accept EU CCCTB Plan - Pearse Doherty TD
Sinn Féin Finance Spokesperson Pearse Doherty has said Ireland should feel under no moral obligation to accept the EU’s CCCTB tax plan.
Teachta Doherty said the EU had not done its homework on the scheme and that despite the spin CCCTB could actually lead to more tax breaks for companies based here.
Speaking today, Deputy Doherty said:
“Today the Finance Committee heard from two MEPs seeking to sell us the idea of the CCTB and CCCTB. Again, like the Commission before it, the MEPs failed to point to any concrete advantages to the State or even to Europe as a whole of the plan.
"Ireland should be under no moral obligations to accept the EU’s proposals because the EU says it is about tax avoidance.
"There are fundamental questions about sovereignty and the right of the Irish people to set its own economic policy, for better or worse. There are also very practical questions that the EU simply cannot answer like how CCCTB will impact on the economy on a national or EU level.
"They refuse to use the latest data in their forecasts. They haven’t done their homework but are calling on us to sign up anyway.
"The CCCTB would result in Ireland having to use only a single Corporation Tax rate, presumably meaning an end to the 25% and 33% rates- something the MEPs were unaware of today.
"Additionally, it has been pointed out that the very generous exemptions under the proposed CCCTB would result in a narrower tax base than Ireland currently uses. Given how over dependent on Corporation Tax Ireland is any shake up like this with unpredictable outcomes is not to be entered into on a whim.
"The fundamental question remains - Why should Ireland sign up to a plan that comes with no reliable forecasts and that clearly impinges on tax sovereignty in a new and dangerous way? We are none the wiser about the reply to that question after today’s Committee hearing.”