Oireachtas Joint and Select Committees

Thursday, 3 May 2018

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

EU Proposals on Taxation of the Digital Economy: Discussion (Resumed)

9:30 am

Ms Cora O'Brien:

The Irish Tax Institute is working closely with the Department, Revenue officials and the Government on the implementation of outstanding elements of the BEPS programme. A very significant change to the Irish tax system is that we will be introducing controlled foreign company rules from 1 January next year.

We fully expect to see those in the Finance Bill. We are also working closely regarding the implementation of the updated transfer pricing guidelines, about which Mr. McCaughey spoke, and a number of outstanding issues. Base erosion and profit shifting, BEPS, implementation is a process in every country where it is happening, therefore, not all the measures can be instantly adopted. Along with other countries, Ireland is working to make sure that they are implemented by the deadlines.

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