International And Irish Tax Update - July 2016

Summary

As highlighted in our Tax Update in March 2016, international tax developments continue to feature prominently on the global news agenda.

The recent UK referendum result has raised many questions about the future relationship between the UK and the EU. We examine the possible tax consequences for Irish companies and the impact on EU tax policy in the years to come.

The political agreement reached in respect of the EU Anti-Tax Avoidance Directive (the "ATA Directive") on 20 June 2016 by EU Finance Ministers represents one of the most important and far-reaching EU tax developments ever. Once transposed into national law, the ATA Directive may result in significant changes to how cross-border investments and multinational corporate groups are structured.