First published in The Irish Times, 1 June 2017
More than half of multinational companies have changed their tax plans due to US president Donald Trump’s proposed tax reforms, according to new research.
Taxand, a global tax adviser, published figures on Thursday showing that 55 per cent of chief financial officers and tax directors have altered their tax plans, or delayed decisions, due to the reforms.
Taxand surveyed individuals from across Europe, Asia and the Americas at its recent global conference in Frankfurt to provide a view on the current tax landscape across the world and examine how multinational companies view the current pressures.
Ireland probably has the most US capital investment in Europe and that most US companies use Ireland or the UK as their entry to the European market. The difficulty of that is that Ireland is effectively a victim of tax decisions being made in the US.