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11/11/2008
Government Oppose Early Obama Tax Policy
The Irish government is to oppose the American President-elect's policy on reforming corporation tax for its nation's multi-nationals.
Barack Obama is expected to overhaul its corporation tax laws for US companies stationed abroad, making it more difficult for them to take advantage of cheap tax laws in countries such as Ireland.
American interests in Ireland are worth €2.5 billion to the Irish exchequer each year, and a reformed tax policy in the US could be used to direct more of that money back to the States.
Minister for Finance, Brian Lenihan, has said there would be "continuous liaison with the business community through diplomatic and overseas channels’", and his department would continue to monitor any potential changes to the US tax system.
According to reports today, the Irish government plans to contact US multinationals operating in Ireland in relation to their position over the coming weeks. It also intends to lobby members of the US Congress and Senate, particularly public representatives with strong ties to Ireland.
(DW)
Barack Obama is expected to overhaul its corporation tax laws for US companies stationed abroad, making it more difficult for them to take advantage of cheap tax laws in countries such as Ireland.
American interests in Ireland are worth €2.5 billion to the Irish exchequer each year, and a reformed tax policy in the US could be used to direct more of that money back to the States.
Minister for Finance, Brian Lenihan, has said there would be "continuous liaison with the business community through diplomatic and overseas channels’", and his department would continue to monitor any potential changes to the US tax system.
According to reports today, the Irish government plans to contact US multinationals operating in Ireland in relation to their position over the coming weeks. It also intends to lobby members of the US Congress and Senate, particularly public representatives with strong ties to Ireland.
(DW)
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