Sir, - The report on the Irish Financial Services Centre and DIRT tax should serve as a wake up call to all Irish Citizens. International banks have begun to flex their muscles on a crucial element of Irish tax policy. Not content with a rock bottom corporate tax rate and all sorts of financial incentives for investing in the IFSC, these banks now feel that even the collection of DIRT tax is a hindrance to them.
The stance of the Financial Services Industry Association illustrates that for Ireland to retain the patronage of the major players. our tax regime must be made to behave. The threat of withdrawal from the IFSC will ensure that the Government will comply with the banks' wishes and further enhance Ireland's burgeoning reputation as a fiscal paradise where very few questions are asked.
Is this really what we want from the, so far very costly, IFSC? - Yours, etc.,
Ciaran Mc Kenna, Dublin 8.