The U.K. government published today a consultation paper that might allow Northern Ireland’s power- sharing executive to reduce the region’s corporation tax rate to 12.5 percent.
“It is estimated that the level of investment in Northern Ireland would be around 6 percent higher each year than it would have been in the base case, where the Northern Ireland corporation tax rate is not devolved and reduced to 12.5 percent,” according to the document, released at a press conference in Lisburn, Northern Ireland, today.
The consultation period lasts until June 24, after which the results will be presented to the U.K. government.
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