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Institute responds to the “Consultation on Coffey Review”

Yesterday, the Institute made a detailed submission to the Department of Finance on the recommendations contained in Mr Seamus Coffey’s Review of the Irish Corporation Tax Code.

Since Mr Coffey’s Review was published last September, we have been considering his report and working with our Policy Committee, and members in both practice and industry to formulate our response to the consultation.

Given the importance of all the anticipated changes to the corporation tax code over the next two years, we emphasised in the submission the need to provide tax certainty for taxpayers by consulting widely, not only on the policy choices required but also on draft legislation and Revenue guidance well in advance of the measures commencing.

Our detailed submission includes the Institute’s recommendations on Controlled Foreign Company legislation and moving to a territorial regime; transfer pricing, the GAAR, exit tax and anti-hybrid rules.

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