Corporate Tax Rate At Heart Of Ireland’s Offering
Irish Prime Minister Enda Kenny has reiterated his “rock-solid” commitment to the country’s 12.5 percent corporate tax rate.
In a speech to the Irish Chamber of Commerce, Atlanta, Kenny said that his Government is “fully committed to pursuing policies that create the ideal conditions for enterprise and investment.” He pointed out that several major multinationals have their European headquarters in Ireland, and that the country is a leading hub for start-ups.
“Our transparent 12.5 percent corporate tax rate is clear and our commitment to it is rock-solid. We have added to this some of the best incentives in the world for research and development,” Kenny said.
Deputy Prime Minister Joan Burton was also in the US for a series of political, economic, and cultural meetings to mark St Patrick’s Day. She said: “We provide barrier-free access to an EU market of over 500m consumers, and we offer an excellent business environment, with a stable and competitive corporation tax regime and strong incentives for research and development.”
In January, the Government confirmed that it will offer a tax rate below 12.5 percent on intellectual property income under a new Knowledge Development Box (KDB). According to Finance Minister Michael Noonan, an Irish KDB would be “best in class” and offer “a low, competitive, and sustainable tax rate.” A consultation on the plans closes on April 8.
