On 7 January 2016, the UK HMRC published the memorandum of understanding (MoU) signed between HMRC and the Northern Ireland Executive’s Department of Finance and Personnel, Northern Ireland (DFPNI) for the implementation of the devolved corporate tax rate in Northern Ireland. The Northern Ireland Executive and the UK and Irish governments agreed to the implementation of a 12.5% Northern Ireland Corporation Tax (NICT) from 2018 under the Stormont Agreement and Implementation Plan. According to the MoU, the NICT is to be set by the Northern Ireland Assembly prior to each financial year. The NICT rules and policy will form part...