Irish tax rate ‘must stay low’

IRELAND must keep its low tax rates to maximise its attractiveness for foreign investors, the head of the US Chamber of Commerce said yesterday.

Thomas Donohue, whose organisation represents more than three million American businesses, said Ireland should resist efforts to impose a single corporation tax regime across Europe and fight to retain advantages that made the country distinctive and competitive.

Mr Donohue said Ireland’s attractiveness as a place for American companies to do business stemmed from its high-quality, English speaking workforce, its tax system, an attractive regulatory environment and its position as a gateway for access to EU markets.