Corporation Tax - committed to 12.5%

[Brendan Burgess]

€7.4 billion generated (so far this year?)

Committed to 12.5%

WE will publish a road map which will review BEPS published yesterday.

Change is inevitable.

OECD whether agreement is reached or not, will affect us.

Intellectual Property - amending all intangible assets will be within the scope of balancing charge rules

We won't get significant additional tax revenue

Introduction of other technical changes.

 

[ClubMan]

€7.4 billion generated (so far this year?)

I guess it's YTD alright as I seem to recall the annual projections being around €11Bn and actual receipts were ahead of projections in spite of (or maybe because of - e.g. pharma, IT etc.) COVID-19.

My understanding is that as things stand the US is not cooperating on any global rationalisation/normalisation/standardisation of corporate tax which might doom any efforts to failure for the forseeable future?