Commentary

A1.550 Introduction to devolved taxes in Northern Ireland

Administration and compliance

A1.550 Introduction to devolved taxes in Northern Ireland

Devolved taxes—Northern Ireland

A1.550 Introduction to devolved taxes in Northern Ireland

For some years it has been argued that the Republic of Ireland attracts substantial foreign direct investment thanks to its much lower rate of corporation tax, and that Northern Ireland has suffered from this tax competition. Businesses in Northern Ireland currently pay UK corporation tax at 20% or 21%, while the rate in the Republic of Ireland is 12.5%.

In his 2011 Budget the Chancellor announced that a Treasury review would:

'consider the case for Northern Ireland having an even lower rate of corporation tax than the rest of the

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