February 16, 2011
By Staff Reporter
By Harry Keaney
Ireland now arguably possesses the most attractive environment for business in Europe, or perhaps the world, according to the Ireland-United States Council for Commerce and Industry. A key element of that environment has been the low maximum 10 percent corporate profit tax rate, which had been due to expire in coming years.
However, a recent taxation agreement between the Irish government and the European Commission ensures that Ireland’s favorable environment for manufacturing will continue, with a new across the board 12.5 percent rate on the way.
Details of the new taxation agreement were announced last month. The principal points of the agreement, according to IDA Ireland, the body charged with attracting foreign investment to Ireland, are: