asked the Minister for Industry and Commerce if recent changes in United States tax law on passive income corporations will have an adverse effect on some United States investments in Ireland; and if he has made any representations in the matter to the United States administration and members of Congress.
Written Answers. - US Tax Law Changes.
103.
The Passive Foreign Investment Company provisions in the US Tax Reform Act, 1986, in so far as they affect US investment here could have major adverse implications for our industrial and economic development. The Government's serious concerns in the matter have been the subject of extensive representations at all levels since mid-1987 to the US administration and members of Congress. These representations are continuing and every effort will be made to obtain an alleviation of the impact of these provisions on US investment in this country.