Tax Rise ‘Would Not Drive Multinationals From State'
Douglas S. Stransky was quoted in the June 21, 2021 article in The Irish Times, entitled "Tax Rise 'Would Not Drive Multinationals From State.'" The article discusses that many in Ireland are concerned that an increase in the Irish corporate tax rate from 12.5% to 15% (as the G-7 has proposed) will force U.S.-based multinationals to leave Ireland.
In the article, Doug provides his view that companies are unlikely to leave Ireland, even if the tax rate were to increase, because U.S.-based multinationals have established a presence in Ireland for the many benefits that Ireland offers, beyond just its corporate tax rate. As to whether a higher tax rate would prevent Ireland from competing for future business, Doug notes that if everyone is at 15%, then Ireland remains competitive as a location for business because of all the positive non-tax benefits that Ireland offers, which many other countries do not have.