Report highlights importance of 12.5% corporate tax rate

THE importance of the government’s strong stance on retaining the 12.5% corporate tax was further endorsed yesterday when Shannon Development reported that while last year 616 jobs were lost in the Shannon Free Zone (SFZ), there was no company closure.

The 101 companies in the Shannon industrial zone who employ 6,600, are mostly US owned.

Shannon Development, chief executive, Dr Vincent Cunnane said all the jobs losses resulted in companies downsizing. The 362 new jobs created last year in SFZ represented a 4% decease on the previous year.