The Institute of Chartered Accountants in Ireland (ICAI) has been invited to present its rebuttal of the Varney report to the House of Commons’ Northern Ireland Affairs Committee at Westminster on February 27th.
The Committee will debate the analysis offered by Sir David Varney who has rejected the case for reducing the corporation tax rate in Northern Ireland to that used in the Republic of Ireland.
ICAI, a key player in the debate, will be publishing its rebuttal document on the day of the committee hearing which co-incides with an ICAI gathering of political and business figures in Northern Ireland to discuss the case for a special tax rate for Northern Ireland, as distinct from the one used in the rest of the UK, Tax-News.com reports.
‘ICAI is an all island organisation, and our members have first hand knowledge and experience of how a low corporation tax rate contributes to the economy,’ Brian Keegan, ICAI director of taxation, said. ‘We want to bring this knowledge and experience to the debate on Northern Ireland tax policy, and correct the points overlooked in the Varney Review.’
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