Irish fight to retain corporation tax praised

IRELAND fighting to hold onto its corporation tax rate sends a very strong signal to the international investment community, according to the chief executive of the US Chamber of Commerce.

Thomas J Donohue said that in the face of pressure from the European Union it would have been very easy for Ireland to “throw overboard the favourable tax climate” that has helped transform the country into a “sophisticated hub of innovation, technology and services.

“Instead, Ireland has rightly said no, we’re not going to squander our most important competitive strengths. This is to your Government’s credit and is a very strong signal to send to the international investment community,” he said.