Ireland's Commission on Taxation report reinforces Ireland’s low corporate tax regime

The Commission on Taxation report, published on September 7, 2009, contains over 240 recommendations which could have a significant impact on various aspects of the Irish tax system if implemented as proposed. Of particular importance for foreign investors in the Pharmaceuticals, Life Sciences and Medical industry is the underlying commitment to a low corporate tax regime, with the 12.5% tax rate having been guaranteed by the Irish Government in setting the Commission's terms of reference. Also of importance for the smaller companies, is the availability to extend the existing three year "start up" corporation tax exemption to companies starting activities in 2010 and 2011.

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