The Irish Times/PwC Tax Summit took place at the Westin Hotel in Dublin this morning. A number of top business leaders and policy makers were in attendance.

During the conference, research was released which found that Ireland's high personal tax burden is the top threat to business growth as viewed by Irish CEOs today, and is up from 77% last year, according to PwC's 2017 Irish CEO Pulse survey.

Furthermore, attendees heard how reducing the personal tax burden is also a key factor in increasing Ireland's attractiveness as a location of choice for foreign direct investment for nearly a third (29%) of Ireland's MNC CEOs. 

In the shot term, particularly in the context of Brexit, PwC believe the Government may want to enhance incentives for foreign executives to relocate to Ireland - bridging the gap until the top rate of tax is reduced for all.

Speaking at the Irish Times/PwC Tax Summit, International Tax Partner at PwC, Liam Diamond said, "Ireland is recognised as having a competitive and sustainable tax offering built on an attractive Rate, Regime and Reputation. Various EU/OECD driven tax changes are required over the coming years, but there are no surprises in the short term for Ireland as we have an agreed implementation timeline with a consultation process to kick-off from Budget 2018."

He added, "It is vital that Ireland stays connected to the decision makers on tax policy and legislative developments at both an international (EU, OECD) and country specific (UK, US) levels. Both risks and opportunities will arise in the medium term for Ireland which we must anticipate and be ready to defend Ireland's interest as proposals emerge."

Source: www.businessworld.ie