Monday 26 June 2017

Alarm bells at Trump's tax cut plans are muted

US President Donald Trump. Photo: AP
US President Donald Trump. Photo: AP
Editorial

Editorial

On the face of it, the Trump administration's move to cut corporate tax to 15pc ought to set off alarm bells here.

A major driver behind the White House's ambition for reform appears to be what is referred to as the "lock-out effect", which stems from high taxes discouraging US companies, like Apple, Google and Microsoft, from repatriating money they generate abroad.

These are among the significant US employers in Ireland who are attracted by our low corporation tax level of 12.5pc.

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