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Ireland's Budget 2010 Briefing
This has to be the toughest Budget that any Minister for Finance has had to lay before the House. Tough because he had to deliver the bad news to his staff, the public sector and his dependants, the social welfare recipients. Politically, this was not a vote chasing Budget.
Internationally, it will be well received by the bondholders as we bring our expenditure into line. The retention of the 12.5% corporate tax rate will reassure multinationals as to Ireland's commitment to a stable corporate tax environment. Let us hope that the proposed new single tax to replace PRSI and levies in 2011 will address our cost of labour and make Ireland really competitive for foreign direct investment and job creation.
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