The Irish corporation tax regime has been defended by its finance minister
after major British businesses lined up moves to the lower-tax region.
The Republic of Ireland minister of finance Brian Cowen said the country had
pursued a ‘consistent strategy’ of maintaining a low tax burden on income of
individuals and companies to support its economic growth and social progress,
He also said its tax regime was ‘transparent’ and ‘relatively simple’
compared to other jurisdictions.
‘We do not encourage so-called ‘brass plate’ operations which seek to simply
avail of our low tax rates. We want to see real substance in investment in
Shire and United Business Media are planning to switch their tax domiciles to
Ireland, while International Power said it was also considering a move.
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