Addressing a PwC event in Dubin on Wednesday, Mr McGrath said that implementation of the corporate tax increase is progressing “at pace”, and will be legislated for in the Finance Bill published this autumn.
“It will require an understanding of new concepts, and indeed of terminology, access to new data points, and complex new calculations,” he said. Paraic Burke, head of tax with PwC, said that the complexity of the incoming pillar two rules is “causing concerns” for the company’s clients. The Minister said that his department is placing a renewed focus on access to education, and reducing red tape and bureaucracy in relation to corporation tax and a number of domestic tax schemes.
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