In 2016 the ICT sector in Ireland consituted 0.5-0.7% of the national GDP and 17-27% of Ireland’s corporate tax revenues. If the EU digital tax will be applied these payments will reduce. The coming into force of this new levy will also determine some difficulties for tech companies to expand their business in Ireland, undermining the benefits of the corporate tax regime.
This week the European Commission, supported by 19 EU nations, will formally make a proposal to introduce an EU digital tax on tech companies’ revenues. (more…)