Swiss to benefit from Irish tax increase
Increase in Irish corporation tax will push companies to Swizerland
AN INCREASE in Ireland’s attractive low corporation tax rate will likely see businesses running to Switzerland, The Financial Times reports.
Ireland is under pressure to raise its corporate tax rate to pay off its deficit. However, experts have warned any change in the corporation tax rates will lead companies to shift profits to Switzerland.
Anneli Collins, head of tax policy at KPMG, told the Financial Times there was a good chance an increase in the rate “would simply make companies shift their profits to places like Switzerland, rather than France or Germany”.
Bill Dodwell, head of tax policy at Deloitte, said Switzerland would be “the most likely beneficiary” of any jump in corporation tax in Ireland.