Minister for Finance Paschal Donohoe has said he will brief the Government on Thursday on the revised draft agreement from the Organisation for Economic Co-operation and Development (OECD) on corporate tax reform.

The minister was speaking at a press conference this evening in Luxembourg following a Eurogroup meeting.

He would not confirm, in answer to a question, whether or not the reference to a rate of "at least 15%" had been clarified in the latest draft.

Mr Donohoe said "we are making some progress" and that there was a need for "further engagement with the OECD and the Commission".

He said: "I have received a new text in relation to efforts to reach agreement on corporate tax reform. In the coming days, I have to brief the Irish government on that text first. I'll be doing that on Thursday. In the aftermath of that the government will then make a decision in relation to the OECD process.

"We are making some progress but there is a need for further engagement with the OECD, with the [European] Commission, all of that is underway and the government will form a view on this matter later on in the week."

It emerged earlier today that Ireland had received the revised text on the OECD plan that aims to set a global, minimum corporate tax rate.

Speaking on RTÉ's Drivetime, Tánaiste Leo Varadkar said the new text "does respond to a lot, if not all, of the concerns" that the Irish Government had raised with the OECD agreement.

He said it would be discussed by ministers on Thursday and he expected the Government would then be in a position to issue a response, either on that day or by Friday.

Mr Donohoe met Executive Vice-President of the European Commission and Commissioner for Competition Margrethe Vestager to discuss tax issues.

Mr Donohoe is also President of the Eurogroup, and he chaired a meeting of the finance ministers of the euro area this afternoon in Luxembourg.

It focused on euro zone inflation and energy prices, with ministers also covering preparation for upcoming international meetings, including exchange rate developments.

Speaking ahead of the meetings, Mr Donohoe stated that October is a critical period in which EU governments finalise their budgets.

He said that on the economic front, the latest news on the euro area's recovery remains robust and growth is expected to be approximately 5% this year.

"At the same time, there is still uncertainty, including due to supply chain disruptions and higher energy prices. We need to monitor these closely and continue to implement policies that turn the rebound into a long-lasting recovery," the minister said.

"It is my pleasure to invite Christian Zinglersen, Director of the EU Agency for the Cooperation of Energy Regulators (ACER), to join us to give and update on energy prices, given recent developments in inflation and energy prices have implications for Euro area inflation, competitiveness, and fiscal stance," he added.

Meanwhile, a strong recovery in consumer spending and higher than expected corporation tax helped push the deficit in Ireland's public finances lower in September.