Jim O'Keeffe
Question:153 Mr. J. O'Keeffe asked the Minister for Finance the way in which the tax system can be made more efficient and effective in order to encourage potential overseas investors and Irish entrepreneurs. [19402/97]
Written Answers. - Tax System.
The most effective way of encouraging overseas investors and Irish entrepreneurs through the tax system is to maintain an attractive low corporate tax regime over a long-term investment horizon and to reduce the overall burden of income tax for entrepreneurs and employees. In so far as corporation tax is concerned, the Government is committed to the introduction of a single low rate of tax for trading profits for all sectors of the economy and this will be phased in over the coming years to eventually replace the current regime. As regards income tax, we intend to provide significant reductions in the coming years within prudent budgetary parameters.