News › Weekly Alert Article
Corporate Tax Rate Continues to Attract Multinationals
Ireland has topped the list of the best places to invest in Western Europe, according to the annual Global Best-To-Invest Rankings compiled by international magazine Site Selection. In terms of the locations in Western Europe that are 'Best-to-Invest', Ireland now tops the list, followed by the UK, Germany, Austria, Switzerland and Italy. In terms of top metropolitan locations to invest, Dublin tops the list, followed by Frankfurt, Edinburgh and Birmingham. Taxand Ireland discusses the renewed focus on Ireland as an attractive investment destination for multinationals.
The Best-to-Invest rankings are determined 50pc by LocationSelector.com-supplied analysis in the following categories: business environment, business risks, foreign direct investment and infrastructure; and 50pc by new and expanded facilities announced in 2011 and tracked by Site Selection publisher Conway Data Inc's (CDI) New Plant Database.
In the past week alone there have been significant investment announcements by leading international companies such as Smartbox, IBM Corporation, Merit Medical Systems Inc and Apple Inc. This comes on top of a bumper year in 2011 which saw record-breaking levels of investment in Ireland.
Despite Ireland's well-publicised financial problems, there is good news on the economic front in the form of these further foreign direct investment announcements. Ireland's low corporation tax rate, favourable holding company regime and geographic location are obvious factors in continuing to attract the best companies into Ireland. This will ensure a steady return to economic growth and a balancing of public finances.
Your Taxand contact for further queries is:
T: +353 1 639 5214