The decision of Ireland to officially join the proposed OECD agreement on corporate tax is both welcome and overdue, but it does not ensure the end of Dublin’s tax harmonisation battles in Brussels.

In the short term, Ireland coming into the minimum taxation tent brings several benefits. It removes the credibility-sapping focus on Ireland’s policies which have come to dominate international coverage of this issue. It will also shift attention to other EU states (namely Poland and Hungary) who are presenting Brussels with much more fundamental challenges over the rule of law and the primacy of EU legislation. Being part of the solution (as opposed to drifting away to principled isolationism) will allow Ireland to more robustly defend its interests as the agreement edges closer to finalisation.

But, it is politically where the biggest advantages may accrue.