Kerry Group likely to face tax bill hike after corporate tax increase

Kerry Group is among the most vulnerable Irish public companies to tax bill hikes, following the Government’s decision to sign up to a global 15% corporate tax rate for large companies from 2023.

Ryanair and Glanbia are others likely to be impacted, based on Irish companies’ reported effective tax rates in their annual accounts in recent years.

Kerry Group reported effective tax rates of 12.3 to 12.8% in the past two years.

The 15% corporate tax rate will apply to 56 Irish multinationals and 1,500 foreign owned groups based in Ireland.