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Ireland Announces Their New Budget for 2011


Ireland announced their budget on 8 December 2010 and it is the toughest that any minister has had to lay before the house. Taxand Ireland addresses the effect of the budget and how this will impact multinationals.

Taxand's Take

The key message for multinationals is that the 12.5% rate has been maintained for corporate tax. Ireland was right to resist pressure from certain European partners to increase this. A sudden shift to a high corporate tax rate could have been catastrophic for the Irish economy but provided that the erosion in income tax for individuals doesn't lead to an increase in wage bills over time, the Budget should be well received by the multinational sectors.

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Your Taxand contact for further queries is:
Martin Phelan
T: +353 1 639 5138

Taxand's Take Author