Statement from American Chamber on G7 meeting
Issued 5 June, 2021.
The American Chamber of Commerce Ireland welcomed the progress made today by the G7 to back a minimum global corporation tax rate. The American Chamber believes such a decision will bring tax certainty to the multi-national sector, which is a welcome step forward. The American Chamber concurs with the Minister for Finance Paschal Donohoe’s comments that a sustainable, ambitious and equitable agreement is in everyone’s interest, and that any agreement would have to meet the needs of both small and large countries.
American Chamber CEO Mark Redmond said:
AmCham’s members believe that whatever the eventual outcome of the G7 agreement reached today - and there are considerable discussions and deliberations to be held at the OECD Inclusive Framework, and the G20 before this issue can be concluded - Ireland will remain a global location of choice for US global investment, due to our established reputation for world-class talent and innovation and the important role our member companies in Ireland play in global supply chains, as well as certainty in economic policy. We note that in the comments today from US Secretary of the Treasury, Janet Yellen, she highlighted that countries should compete on education and training for their work forces, investing in their infrastructure, and research & development. These are all areas the American Chamber has been highlighting as key to Ireland’s continued success in attracting FDI, and will be even more important in the future. In a recent survey, 94% of AmCham members reported that their US headquarters has a positive rating of Ireland as location for investment.“