Michael Noonan

International Tax Review is part of Legal Benchmarking Limited, 1-2 Paris Garden, London, SE1 8ND

Copyright © Legal Benchmarking Limited and its affiliated companies 2025

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Michael Noonan

Minister of Finance, Ireland

Michael Noonan

As Finance Minister, Noonan has helped to place Ireland as Europe’s ultimate trend-setter when it comes to tax competition. He stands firmly committed to the country’s 12.5% corporate tax rate in the face of criticism and opposition from other European Union member states including France and Germany, and has created one of the most favourable intellectual property (IP) regimes in the world.

While his policy of reducing VAT for the tourism industry last year (the move to 9% was intended to be temporary but has been retained in the latest Budget announcement) is presumably being closely tracked by neighbouring Britain as a method of boosting the sector and stimulating employment. George Osborne, UK Chancellor of the Exchequer, has faced calls to include a sector-specific VAT cut in his Autumn Statement announcement.

And while many have accused Ireland of being a tax haven, Noonan also signed an intergovernmental agreement with the US regarding FATCA, which should provide certainty to Irish financial institutions and enable early understanding of compliance requirements. Noonan heralded the signing as an example of Ireland’s commitment to tackling tax evasion.

“This agreement aims to combat tax evasion by providing for the automatic exchange of tax information,” said Noonan. “Reaching such an agreement with the United States will be of benefit to Irish business.”

Further reading

Why Ireland is right to stand by 12.5% rate

Ireland Budget 2014: Open for business

Ireland and US sign FATCA agreement in Dublin


The Global Tax 50 2013

« Previous

Richard Murphy

View the complete list

Next »

Jeffrey Owens

more across site & shared bottom lb ros

More from across our site

Whether it be due to a fragmented advisory market or a rise in M&A, Italy’s frenetic hiring has not gone unnoticed by ITR’s Talent Tracker
The deal gives Azets 14 new partners and boosts its Swedish revenues to over $100 million; in other news, Svalner Atlas launched in Copenhagen
The tax technology company will be providing a free demonstration of its OTP software and offering best practice advice on whether to ‘buy or build’ on September 8
Johanes Glorinus Saragih of Indonesia’s Directorate General of Taxes outlines the nation’s delicate geopolitical situation, as it sits between a rock and a hard place with the US and pillar two
The law firm’s head of tax, trade and wealth management likens tax legislation to a complex puzzle, recommends a sturdy coffee mug, and explains why acronyms make tax cool
The global tax and accounting firm has appointed two experienced TP advisers from a New Jersey-based boutique
A lack of commitment from major jurisdictions and the associated compliance burden are obstacles facing the OECD initiative
Richard Gregg is no longer fit and proper to be a tax agent, said the TPB; in other news, MHA completed its acquisition of Baker Tilly South-East Europe
Recent Indian case law emphasises the importance of economic substance over mere legal form in evaluating tax implications, say authors from Khaitan & Co
PepsiCo was represented by PwC, while the ATO was advised by MinterEllison, an Australian-headquartered law firm
Gift this article