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US FIRMS ‘PAID EFFECTIVE TAX RATE OF 2.2% IN 2011’
Aruba, February 12, 2014 - Trinity College research paper challenges Government claims over corporation tax
 
US multinationals reported paying tax rates of 2.2 per cent in Ireland during 2011, according to a new study. A research paper by Prof James Stewart, associate professor in finance at Trinity College Dublin, also challenges Government claims that effective corporation tax rates in Ireland are just below the headline rate of 12.5 per cent.
 
Instead, the study suggests Ireland’s effective tax rate for American firms is similar to jurisdictions regarded as tax havens such as Bermuda, based on latest US Bureau of Economic Analysis statistics. The research paper’s findings come at a sensitive time as Ireland finds itself in the global spotlight for helping multinationals avoid taxes around the world.
 
Internet giant
On a visit to Paris last week, Taoiseach Enda Kenny faced repeated questions over the decision of US internet giant Yahoo to transfer its finance operations from France to Ireland.
 
Mr Kenny quoted a report by consultants PwC and the World Bank Group which found Ireland’s effective corporate tax rate was about 11.9 per cent, higher than France’s effective rate of 8.2 per cent.

Read more/ Source: http://www.irishtimes.com/business/economy/us-firms-paid-effective-tax-rate-of-2-2-in-2011-1.1686733

 

By orbitalnets.com