AmCham Responds to the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach

The American Chamber of Commerce Ireland (AmCham) welcomes the Committee’s request for a written submission regarding the EU ‘own resources’ proposal, where a share of residual profits from multinationals that would be re-allocated to EU Member States under the recent OECD/G20 agreement, and the potential impact of the proposals.

In relation to the proposal on own resources, AmCham notes that this proposal does not have a direct impact on business but does have a direct impact on the Exchequer. In this regard, it is noted that the calculation of the ‘own resources’ proposal would be based on gross profits of businesses which does not correlate with the tax that the Irish Exchequer receives.

Read the full submission here.