ARTICLE · 21 OCTOBER 2015

Ireland's Budget Statement 2016 - Key Points For Multinational Companies

Matheson

Explore more from Matheson

Most of yesterday's pre-election budget statement for 2016 (the "Budget") by Ireland's Minister for Finance (the "Minister") focused on personal taxation.

IrelandTax

Alan Connell

Catherine Galvin

Turlough Galvin

+5 more

Author LinkedIn connections

Most of yesterday's pre-election budget statement for 2016 (the "Budget") by Ireland's Minister for Finance (the "Minister") focused on personal taxation. In the portion of his statement covering corporation tax, two key announcements were made in line with expectations following on from the publication of the final reports under the OECD's base erosion and profit shifting ("BEPS") project:

Ireland will implement country by country reporting ("CBCR") as recommended under BEPS Action 13; and
Ireland's knowledge development box ("KDB"), which will permit certain income from intellectual property to be taxed at 6.25%, will incorporate the nexus approach proposed under BEPS Action 5, making it the world's "first and only OECD-compliant box".

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

Related Articles

Key Details Of The New Irish Individual Investment Account Unveiled In Finance (No. 2) Bill 2026

Irish Budget 2027: Key Tax Measures For The Financial Services Industry

Ireland Budget 2027 – Tax Highlights

Public Country-by-Country Reporting: Irish CLO Issuers

European UnionTax

Budget 2027

William Fry LLP

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Tax
- Corporate Tax
- Income Tax

Related Comparative Guides

Comparative Guide

Tax Disputes

Comparative Guide

Tax

See more popular content from

Tax

Budget 2027

Ireland's Budget 2027, announced on 6 October 2026, introduces a €1.3 billion personal income tax package and projects a €9.5 billion surplus while implementing significant changes to capital gains tax...

William Fry LLP

Irish Budget 2027: Key Tax Measures For The Financial Services Industry

Ireland's Budget 2027 introduces a lower exit tax rate for fund investors, clearer rules for Irish ETFs, and a new Retail Investment Account, while leaving the controversial eight-year deemed disposal rule unchanged. The package also includes Pillar Two updates, interest relief reforms, and a capital gains tax reduction, offering targeted refinements for the financial services sector rather than the fundamental reform many had anticipated.

Corporate Tax 2025 - Ireland

Most often, businesses gravitate towards the LTD model due to its familiarity and simplicity. However, DACs and Irish Collective Asset Management Vehicles...

Ireland Budget 2027 – Tax Highlights

Ireland's Budget 2027 introduces significant tax reforms aimed at boosting competitiveness and encouraging investment, including reductions in capital gains tax, simplified interest relief provisions, and a new Personal Investment Account with favorable tax treatment. The budget package totals €8.5 billion with measures focused on rewarding work, promoting entrepreneurship, and addressing housing supply challenges.

Irish Budget 2026 – Implications For Irish And International Investors

The Irish Budget for 2026 was announced by Minister Pascal Donohoe on 7 October 2025.

The DAC Recast – Delivering Meaningful Tax Simplification

The European Commission has proposed consolidating nine separate Directives on Administrative Cooperation into a single recast directive, aiming to simplify the EU's tax information exchange framework while maintaining transparency. However, the proposal faces significant challenges including the incorporation of previously rejected "Unshell" provisions, the requirement for unanimous approval from all 27 Member States, and questions about whether the consolidation will deliver meaningful simplification for

European UnionTax

Statutory Codification Of Foreign Entity Tax Classification In Ireland

Ireland has introduced Section 1009A of the Taxes Consolidation Act 1997, marking the first time Irish legislation directly addresses the tax transparency of foreign entities. This groundbreaking provision has significant implications for cross-border investment structures involving Irish funds, particularly those utilizing Delaware limited partnerships, U.K. LLPs, and U.S. LLCs, with downstream consequences for Pillar 2 and anti-hybrid mismatch rules.

Covid-19 Ireland Update - Irish Corporate Tax Residence Considerations

Directors of Irish resident companies who routinely travel to Ireland to attend board meetings may find they are unable to travel due to disruptions to airline schedules, lock-downs

Roadmap For The Taxation Of Retail Investment Published: Funds Perspective

The Irish Department of Finance has unveiled a comprehensive roadmap to transform how retail investors are taxed, with a new investment account at its core designed to simplify the tax framework and encourage greater participation in capital markets. The proposal includes annual contribution limits, a tax-free threshold, and a flat-rate tax structure that eliminates the controversial deemed disposal rule, while also signaling broader reforms to investment fund taxation from Budget 2028 onwards. This initiat

EU Customs Reform: New Union Customs Code Published

The European Union has enacted its most sweeping customs reform since 1968, fundamentally reshaping how businesses import and export goods across EU borders. The new Union Customs Code introduces stricter compliance requirements, shifts liability to importers and exporters, and establishes a centralized EU Customs Data Hub that will eventually become mandatory for all economic operators.

European UnionTax