Irish Examiner view: Intel’s decision

US Secretary of the Treasury, Janet L Yellen and Minister for Finance Paschal Donohoe at a press conference in Government Buildings during her official visit to Ireland. Picture: Julien Behal

US Treasury Secretary Janet Yellen visited Ireland this week just one month after the Government agreed to increase the corporate tax rate on multinational and large companies to 15%, up from the 12.5% rate that had been so successful, and controversial, over the years.

Ms Yellen’s trip is widely seen as a show of support for Ireland’s decision to don the global jersey, albeit reluctantly. However Ms Yellen strongly denied that she had cajoled Ireland into increasing the rate, pointing out that multinationals will now pay their fair share of taxes. But the first big test of Ireland’s entry in this new tax league will come in just a matter of weeks when Intel decides where it will base an $80bn investment project that could create up to 10,000 jobs.