Kerry MEP says 12.5 percent corporate tax rate could be ending

Ireland will not be able to hold out against international corporate tax reform - which means the 12.5 percent rate could be coming to an end.

That's according to Fine Gael MEP Sean Kelly, who says the EU will have to press ahead with reforms even if the OECD doesn't.

It follows a landslide vote in the European Parliament, backing a minimum effective rate.

Sean Kelly says Irish policymakers might well disagree, but there's now an international consensus that it's hard to justify on a moral basis.