Ireland wants a compromise concerning the forthcoming corporate tax rate change.
The finance ministers of G7 had an agreement this month regarding the corporate tax rate hike up to a minimum of 15%. This decision was suggested by Biden's administration, with a purpose of, what the administration says would be making the tax system more fair.
According to the Irish Finance Minister Paschal Donohoe, Ireland will take a part in the OECD(Organisation for Economic Co-operation and Development) process very intensely.
“What we are going to do is engage in the OECD process very intensely across the coming weeks and months, and I do hope an agreement can be reached that does recognize the role of legitimate tax competition for smaller and medium-sized economies”, the Irish Minister said to CNBC.
The plan of changing tax rates is being discussed at the OECD and further will be discussed by the G-20 representatives.