Irish defend 'predatory' corporation tax rate - papers

The Irish government will not raise the country's low corporation tax rate in return for an EU-led bailout, as a French official said some view the rate as "almost predatory".

Deputy Prime Minister Mary Coughlan said the 12.5% rate - much lower than the EU average - was "non-negotiable", reports the BBC. Her comments come as speculation grows France and Germany want the Irish Republic to raise the tax in return for aid. The Financial Times on Friday reported a French official saying the low corporate tax rate was seen by some elsewhere in Europe as "almost predatory". "They need lots of money and we note they have a corporation tax rate that is very low," the official said. "Supply must follow demand." FULL STORY...