Cowen to raise tax concerns with Obama

Taoiseach Brian Cowen has said Ireland will be keeping a "watching brief" on President Barack Obama's plans to tax the profits of US companies operating overseas.

Mr Cowen is expected to raise America's tax plans with the US president when he meets

him in the White House on Wednesday, St Patrick's Day.

However he said he does not believe Ireland will lose jobs or investment if the plans go ahead, insisting Ireland is not on the US hit list.

"They refer to offshore jurisdictions that weren't transparent and weren't in compliance with international tax treaties - we are, and we have a transparent 12.5% tax rate," Mr Cowen said today during his ongoing visit to the US.