Taoiseach moves to reassure American Chamber on corporate tax rates post-Brexit

Taoiseach Enda Kenny has moved to reassure US multinationals there will be no change to Ireland's 12.5 per cent corporate tax rate in the wake of Brexit.

Speaking at an American Chamber of Commerce lunch in Cork attended by executives from US companies that employ some 140,000 in Ireland, he said the recent European Commission ruling on Apple's €13 billion tax liability would also have no impact on taxation.

“Ireland is absolutely committed to its 12.5 per cent corporation tax rate. That will not be changing and that is an important element for consideration with American investors coming here to Ireland.”

Chamber of commerce president Bob Savage said that events of recent weeks had highlighted the need for certainty in policy and administration to secure current and future investment from US companies doing business or seeking to do business in Ireland.

“We deeply appreciate the Taoiseach’s unambiguous declaration that his Government will steadfastly defend our hard-earned reputation as a pro-business country that is defined by fairness and certainty of treatment,” he said.

Mr Kenny said that from his discussions with IDA Ireland, he was certain the pipeline for foreign direct investment remained very busy and the Government would be working to assist incoming companies by investing in infrastructure and housing to meet their needs.