Friday 23 June 2017

"Deeply concerned" US multinationals call for Irish tax reform

US multinationals are
US multinationals are "deeply concerned"
Gavin McLoughlin

Gavin McLoughlin

American multinationals are "deeply concerned" about the personal tax burden in Ireland, according to the American Chamber of Commerce Ireland.

The Chamber said reform would make Ireland a more attractive location for talented workers.

The call comes as Ireland faces increased competition for foreign direct investment with UK chancellor George Osborne announcing plans to slash corporation tax below 15pc, with Northern Irish Finance Minister Mairtin O Muilleoir saying he could cut Northern Ireland's rate below the Republic's 12.5pc.

In a submission to a Department of Finance public consultation on the taxation of share-based remuneration, the Chamber called for an overhaul of the tax treatment of share options, including removing the income tax liability that comes due when options were exercised.

It said it would provide a wider submission on other tax reforms before the Budget.

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