On 5 April, Minister for Finance Michael McGath TD published a first feedback statement on the development of a participation exemption for foreign dividends to the Irish Corporation Tax system. The feedback statement includes a ‘strawman proposal’ that sets out a hypothetical example for how a participation exemption for foreign dividends might work in Ireland, writes BDO’s Angela Fleming, who says while there are aspects that could be improved upon, the current proposal ‘would be a significant step forward in the simplification of the Irish corporate tax system’.