Taoiseach (Prime Minister of Ireland), Mr. Enda Kenny today gave categorical reassurance to Ireland’s ongoing commitment to its 12.5% Corporation Tax rate.
At his first post-Brexit meeting with the American Chamber of Commerce of Ireland, Mr Kenny ruled out any question of Ireland’s corporate tax rate being up for negotiation post-Brexit, or following the EU’s tax ruling on US tech giant Apple, which is the subject of an appeal.
Mr. Kenny said, “I have made it perfectly clear, from a tax certainty point of view, that Ireland is absolutely committed to its 12.5% corporation tax rate. That will not be changing and that is an important element for consideration for American investors coming here to Ireland”.
He added, “I also want to assure you of the Government’s continued deep commitment to ensuring Ireland remains a great place from which to do business with the rest of Europe and the wider world. We are all aware of the challenges that lie ahead, including Brexit, but I am determined to ensure that the best interests of our country are fully represented at the European table. We will continue to focus on the opportunities available to us as an English speaking member of the European Union, with a talented and flexible workforce and a strong pro-business attitude.
Key Facts on US Foreign Direct Investment in Ireland
- The output from US companies in Ireland exceeds $80 billion per year
- US companies have invested over $277 billion in Ireland since 1990
- 140,000 people are employed by over 700 US companies in Ireland, including;
- 9 of the world’s top 10 software companies
- 9 of the world’s top pharma companies
- 13 of the top 15 med tech companies
- 9 of the top 10 US ICT companies
- 15 of the top 25 finance companies
(Source: American Chamber of Commerce Ireland)