The Irish Government has warned the EU against going beyond plans published yesterday by the Organisation for Economic Co-Operation and Development (OECD) as it looks to reform international corporate tax policies.
The OECD said that governments are losing at least €213bn per year due to companies' efforts to avoid taxes.
Minister for Finance, Michael Noonan said that he welcomed the Base Erosion and Profit Shifting (Beps) report, and that the OECD's proposals would “play to Ireland’s advantage”.
The Beps report hopes to make it easier to track companies' tax payments in different regions.
The Minister added that new EU tax policies should not go further than the measures outlined yesterday.
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Ireland's 2015 Startup Gathering began yesterday, a total of 400 events will take place across the country - its founder, Eoin Costello has warned that not enough is being done to encourage Irish start-ups.
He has called for a number of measures including entrepreneurship education, financial supports for young companies and resources like subsidised office space.
Dublin has not been ranked among the world's top 20 cities for start-ups, according to the 2015 Global Startup Ecosystem Ranking. Los Angeles was listed in first place, while cities with populations similar to Dublin's, like Austin and Amsterdam made the list.
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There has been a new and strong increase in house prices outside Dublin.
The latest report from property experts DAFT.ie shows the average asking price nationally rose by 3.9% this summer.
That means home buyers are now typically paying €205,000, compared to €190,000 this time last year.
At their lowest point, house prices around the country fell to €164,000 in early 2013.
The report shows less positive news for Dublin, where the average price fell by 1.4% over the last three months. That is only the second fall in over three years.
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The United States, Japan and 10 other Pacific Rim nations agreed the largest regional trade accord in history yesterday.
The Trans-Pacific Partnership (TPP) which includes countries like Canada, Australia and Chile will reduce trade barriers in the region which accounts for two fifths of the world's economy.
“When more than 95 percent of our potential customers live outside our borders, we can’t let countries like China write the rules of the global economy,” Barrack Obama said in a statement.
“We should write those rules, opening new markets to American products while setting high standards for protecting workers and preserving our environment,” he continued.
The US President now faces a struggle to get the plan passed by congress against the backdrop of a US presidential campaign.
