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Dáil Éireann debate -
Thursday, 13 Feb 1997

Vol. 474 No. 8

Written Answers. - Corporation Tax Rate.

Helen Keogh

Question:

30 Ms Keogh asked the Minister for Finance if he will make a statement on the Government's plans, if any, for the 10 per cent manufacturing corporation tax rate and for the IFSC 10 per cent rate in view of the fact that the existing arrangements must be reviewed in 2010 and 2005 respectively. [3979/97]

Liz O'Donnell

Question:

45 Ms O'Donnell asked the Minister for Finance if he will make a statement on the Government's plans, if any, for the 10 per cent manufacturing corporation tax rate and for the IFSC 10 per cent rate in view of the fact that the existing arrangements must be reviewed in 2010 and 2005 respectively. [3981/97]

I propose to take Questions Nos. 30 and 45 together.

As I indicated in my budget speech to the House, the Government is studying the appropriate corporation tax structure for the long-term, bearing in mind the importance of the 10 per cent rate for inward investment and the IFSC. I am conscious of the need to clarify this issue at an early date and I hope to be in a position to make an announcement in due course.

Under present legislation, the 10 per cent rate is due to continue until the end of 2005 in the case of the IFSC and until the end of 2010 in the case of manufacturing industry. The primary objective of the review which is currently under way is to provide for a corporation tax structure after these deadlines which will ensure that Ireland remains a competitive location for internationally mobile investment.

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