Ibec has this week welcomed publication of the independent review of Ireland’s corporate tax code by Seamus Coffey but has cautioned, however, that some recommendations require careful thought and further consultation in order to avoid any unnecessary negative impacts on the certainty of the tax regime.
The review takes a positive view on the sustainability of Ireland's corporation tax receipts out to 2020 at least. The Irish regime was recently ranked among the most transparent in the world by the OECDs Global Forum on Transparency and Exchange of Information.
Speaking yesterday, Head of Tax and Fiscal policy at Ibec, Gerard Brady said, "Ireland’s corporation tax strategy, while not the sole reason for this success, is a major part of our offering and must be safeguarded. We must be fully conscious of the opportunities and competitive threats to our FDI driven growth model, which exist in Europe, the UK and US, and be prepared to act accordingly. The review also takes a positive view on the sustainability of Ireland's corporation tax receipts out to 2020 at least - it is vital that this revenue is urgently channelled into much needed capital investment and not built into the day-to-day expenditure base."