On October 21, 2021, Ireland’s Minister for Finance, Paschal Donohoe, published the Finance Bill, 2021, which includes key international tax measures.
The Finance Bill includes new measures which will complete transposition of the Anti-Tax Avoidance Directives, through the introduction of Anti-Reverse-Hybrid rules and a new interest limitation ratio to supplement our long-standing domestic interest rules.
As was announced in the January 2021 Update to the Corporate Tax Roadmap, the Finance Bill will introduce the Authorized OECD Approach for Transfer Pricing of Branches. This is another step in aligning our tax code with new international norms.
The Finance Bill will also transpose a recent EU Directive in respect to important new tax transparency rules for digital platforms.