herald

Sunday 17 December 2017

NI to set its own corporation tax

TAXATION

BrITISH MPs have agreed legislation devolving the power to set corporation tax to the Northern Ireland government following a breakthrough in the political impasse over the country's budget.

The Corporation Tax (Northern Ireland) Bill will now go before the House of Lords for further scrutiny.

It grants Stormont the power to set the corporation tax rate over most trading profits and enables the executive to reduce it to be more in line with that in the Republic.

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