“Complexity is an issue voiced by industry, by administrations alike, and I hope to further advance the simplification agenda of the EU during our Presidency.” – Minister for Finance Paschal Donohoe TD
The President of the Irish Tax Institute has warned that tax complexity is a “growing concern” for Irish and International businesses.
Speaking in advance of the fifth Global Tax Policy Conference which begins in Dublin today (Thursday), Institute President Shane Wallace said the ever-evolving nature and layering of rules was proving very challenging.
The conference, jointly hosted by the Irish Tax Institute and Harvard University’s Center for International Development, brings together experts from around the world to explore critical issues in global tax policy.
Speaking in a pre-recorded opening address for the conference, the Minister for Finance and President of the Eurogroup, Paschal Donohoe TD acknowledged the issue of “complexity” voiced by those in tax administration and industry and said the “simplification agenda” would be advanced by the Irish Government during its Presidency of the European Council in the second half of next year.
The Minister also noted the “complex security and geopolitical background” we are operating and said, “the international tax code must keep pace with how business is conducted and must meet the needs of countries across the world.”
In responding to the Minister’s remarks and welcoming delegates to the Conference, Mr Wallace said, “It’s very welcome to hear the Minister again recognise the issue of tax complexity which he also referenced in his recent Budget speech.
Tax complexity in Ireland has become a growing concern for businesses of all sizes due to the ever-evolving nature and layering of rules. I know this is a challenge faced by many countries and that’s why we have a dedicated session at the Global Tax Policy Conference which will look specifically at unravelling the layers of corporate tax complexity and uncertainty.
“Delegates, both Irish and International, will have a lot of shared experiences when it comes to dealing with tax complexity and I am looking forward to the insights and ideas which will be presented at this Conference”, he concluded.
