Minister Bruton on multinational investment in Ireland and related tax issues
Ireland provides an attractive environment for multinational companies who wish to invest substantively here, grow their businesses, and generate economic activity and jobs. Maintaining and improving this environment has been a key part of our recovery strategy. This strategy been successful over the past three years with over 18,000 additional jobs created in multinational companies here. That strong flow is continuing in the first half of this year with a more than 10% increase in job commitments over the same period in 2013. The Government, my Department or our enterprise agencies do not promote or encourage companies to engage in any practices which bring little or no substance, in terms of jobs or economic activity, to Ireland. The ‘tax inversion’ practices referred to in recent days and weeks are not the product of any features of our tax system, we are not in favour of them and do not promote or encourage them. Ireland features in only a small minority of these cases worldwide, which also relate to a range of other developed countries. As part of our recovery strategy, we will continue determinedly to promote Ireland as a location for substantive multinational investment and jobs based on our track record, our talent pool, our technology capabilities. Our low, stable, transparent, statute-based corporation tax rate is one part of this strategy and we are absolutely committed to that rate. We are convinced that by continuing to implement our plan we can continue to rebuild our economy and attract the investment and job-creation we need.