Tánaiste: US tax moves a concern

TÁNAISTE Mary Coughlan last night admitted “grave concerns” had been sparked by US plans to crack down on tax breaks for American companies in Ireland.

However, the Enterprise Minister attempted to downplay the threat posed by President Barack Obama’s move, as she expressed hope the measures would be watered down by the US Congress.

Mr Obama wants to bring in sweeping new laws forcing companies with offshore bases to pay more taxes in the US.