Will Medtronic Move R&D to Ireland for Tax Purposes?
In the eyes of developed nations, Ireland has become notorious for baiting multinational firms to its land with the offer of friendly tax treatment. By using a 12.5 percent corporate tax rate, highly profitable companies — largely in the technology industry — have been establishing operations throughout Ireland.
However, on Tuesday, Ireland’s finance minister said the country would halve its corporate tax rate to 6.25 percent for innovative companies: ones with earnings tied to patents, copyrights or other research and development (R&D) created in Ireland. (Comparatively, the OECD Tax Database notes that the U.S. corporate tax rate is 35 percent at the federal level, plus state taxes where applicable, though few companies pay that high after deductions and loopholes. The average corporate tax rate around the world is about 25 percent).
Help employers find you! Check out all the jobs and post your resume.
However, on Tuesday, Ireland’s finance minister said the country would halve its corporate tax rate to 6.25 percent for innovative companies: ones with earnings tied to patents, copyrights or other research and development (R&D) created in Ireland. (Comparatively, the OECD Tax Database notes that the U.S. corporate tax rate is 35 percent at the federal level, plus state taxes where applicable, though few companies pay that high after deductions and loopholes. The average corporate tax rate around the world is about 25 percent).
Help employers find you! Check out all the jobs and post your resume.