Wednesday 23 August 2017

No change to 12.5pc rate, Kenny tells US firms

Taoiseach Enda Kenny. Photo: PA
Taoiseach Enda Kenny. Photo: PA
Ralph Riegel

Ralph Riegel

Taoiseach Enda Kenny vowed that there will be no change to Ireland's 12.5pc corporate tax rate as he emphatically reassured US firms about their post-Brexit operations in Ireland.

Mr Kenny ruled out any question of the corporate tax rate being up for negotiation after the EU's shock ruling on giant US firm Apple's Irish tax affairs or the escalating Brexit fallout.

The Taoiseach acknowledged that certainty of tax policy was vital for the 175,000 employees of major US and Irish firms.

American Chamber President Bob Savage highlighted Ireland's future tax affairs as an issue.

"The American Chamber believes that competitiveness and certainty of tax policy are necessary to Ireland's foreign direct investment (FDI) offering," he said.

But Mr Kenny was emphatic on Ireland's tax strategy.

"I have made it perfectly clear, from a tax certainty point of view, that Ireland is absolutely committed to its 12.5pc corporation tax rate.

"That will not be changing and that is an important element for consideration with American investors."

Irish Independent

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