A new report published in Ireland today has found that when you take labour and other taxes into account, Ireland's total tax rate on corporate profits is much lower when compared to many other EU countries such as the UK, Germany, Sweden and France and also the US, China and Australia.
The 2019 PwC/World Bank Group Paying Taxes report highlights that Ireland continues to be on top of the EU league for ease of paying taxes. In addition, Ireland continues to be most effective country in the EU in which to pay business taxes and 4th most effective worldwide. The report finds Ireland performs strongly on tax contribution rate and compliance metrics, having a very competitive tax system in terms of cost and compliance
Furthermore, the report confirms that Ireland is an attractive location in which to establish business. PwC claims that the more efficient a tax system the better it is for business which in turn helps promote economic growth and investment. Paying Taxes 2019 draws upon a comparison of the taxation of businesses in 190 economies.
Commenting on the report, Head of Tax at PwC Ireland, Joe Tynan said, "Ranking as the most effective in the EU for paying taxes, Ireland remains a very attractive location in which to do business. The report highlights that Ireland does very well in terms of tax competitiveness. And when you take labour and other taxes into account, Ireland's total tax rate on corporate profits is much lower when compared with many other EU countries such as the UK, Germany, Sweden and France and also the US and China."