On July 21, 2014, TEI submitted comments to the government of Ireland regarding its public consultation document OECD Base Erosion and Profit Shifting Project in an Irish Context. TEI’s comments focused on the need for certainty should the Irish government change its corporate tax regime in conjunction with OECD’s BEPS project. In particular, TEI recommended that the Irish government provide taxpayers with a significant transition period if any changes are made to the Irish corporate residency rules and implement a formal ruling procedure to confirm the tax consequences of any restructurings taxpayers undertake to conform to a new Irish tax regime.
TEI’s comments were prepared under the aegis of TEI’s European Direct Tax Committee, whose Chair is Nick Hasenoehrl of Herbalife. Benjamin R. Shreck, TEI Tax Counsel, coordinated the preparation of TEI’s comments.