The American Chamber of Commerce Ireland, responding to the tax and infrastructure proposals announced by the US administration last night, has emphasised the importance of tax certainty for business, including for the 650 Irish companies employing over 110,000 people in the US, the need for pro-growth business tax policies at this critical time for the recovery in global trade and investment, and the importance of corporate tax reform of multinationals which is currently being addressed globally through the OECD process.
American Chamber CEO Mark Redmond said:
"The new Biden administration, like all previous administrations is charting its own course on taxation and expenditure policy. AmCham understands the proposals are at an early stage and will most likely face a lengthy review and amendment process through the Houses of Congress and notes the Senate will produce its own proposals next week. There is already strong opposition building to the proposed business tax increases from key US business groups including the US Chamber of Commerce.
AmCham’s members believe that whatever the eventual outcome of the tax deliberations in the US, 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. In a recent survey 94% of AmCham members reported that their US headquarters has a positive rating of Ireland as location for investment – a finding borne out by recent landmark announcements.“