Ireland buckles to pressure, joins global corporate tax deal

By DANICA KIRKA
Associated Press

LONDON (AP) — Ireland has agreed to join an international agreement establishing a minimum corporate tax of 15% around the world, ditching the low-tax policy that has led companies like Google and Facebook to base their European operations in the country. The Irish government initially refused to join the agreement. But it said Thursday it would join the Organization for Economic Cooperation and Development’s global minimum tax accord after compromises that will protect the country’s economic interests. A 12.5% corporate tax rate has been a cornerstone of Ireland’s economic policy since 2003. The announcement came before a meeting Friday where representatives of 140 countries are expected to approve the agreement.