Finance Minister Michael Noonan says that the country's 12.5% corporation tax rate will not be changed and that it may help attract businesses considering relocation from Britain due to Brexit.
Mr Noonan said the 12.5% rate is an important part of the reason why the country is an attractive destination for foreign direct investment.
He also said the UK's recent Brexit decision may present opportunities to attract businesses that may move out of the UK or are considering locating there in future years.
"Nobody is asking for it to be changed," the Minister added, addressing the corporation tax rate, as he delivered Budget 2017.
Mr Noonan said that the Finance Department had published an update on the country's International Tax Strategy which shows the progress the country has made over the past 12 months.
It also highlighted how the Irish corporate tax regime meets the "highest standards" in tax transparency.
The Minister said that in line with established practice, the Government will carry out a review of the corporation tax code. Seamus Coffey, a lecturer in Economics in UCC, will undertake the review.
Mr Noonan also said he would reduce DIRT (Deposit Interest Retention Tax) by 2% each year for the next four years. This will reduce DIRT from 41% this year to 33% in 2020 and will cost an estimated €9m.
On inheritance tax, the Minister said that the improving economy means that increasing asset prices are resulting in higher tax demands when family homes are being passed from one generation to the next.
To help address this, the Category A threshold that applies to inheritances/gifts from parents to their children is being increased by €30,000 to €310,000.
He also said he would increase the Category B and C thresholds by 8%. He said he will revisit these thresholds in the coming years with a view to increasing them further.
