The President of the Irish Tax Institute, Mary Honohan, has claimed that Ireland's income tax policy must be geared towards attracting the talent needed to match the substance requirements for companies operating here.
Honohan has also claimed that key policy platforms in the EU and the OECD are moving in parallel. This means the tax decisions that Ireland makes at home is increasingly important.
Ms. Honohan made these comments to the 1,000 tax advisers, business leaders and policy makers who attended the Annual Dinner of the Irish Tax Institute at DoubleTree by Hilton, Dublin.
Ms. Honohan further claimed that a personal tax regime that keeps Irish business competitive and meets the needs of both employers and employees is paramount.
"We need more top class talent to take us to the next level as an economy," she said, "Recently, a quarter of Irish HR Directors said that attracting leadership skills to Ireland is a challenge with high income taxes being the key inhibitor. It is important for foreign direct investment. It is mission-critical for the economic ecosystem of entrepreneurs and the indigenous sector."