We cannot afford to go back to being the sick man of Europe, relying on EU handouts for survival
Today, 55pc of all of Ireland’s entire tax take is attributable to foreign corporations. Stock image: Getty
Ireland’s income tax system is a curious blend of simplicity and strategic complexity. The system for taxing companies is certainly simple.
Since 2003, we have had a single low fixed rate (12.5pc) tax on the profits of companies. That unvarying figure creates the aura of stability, which investors crave. Ireland has now signed up to a new 15pc rate on the profits of larger companies. However, for the vast majority, the 12.5pc sanctuary remains in place.