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Gilmore: Companies in Ireland pay close to the correct amount of tax

The Tánaiste was responding to reports that one US multinational company had an effective tax rate of 4 per cent in 2011.

http://www.youtube.com/watch?v=b2owWCMFzPQ

YouTube: Hugh O’Connell

TÁNAISTE EAMON GILMORE has said that companies operating in Ireland pay close to the correct amount of tax and said the reason for any discrepancies is tax reliefs offered for research and development.

Gilmore was speaking at the opening of the data management company 10gen’s new offices in Dublin city centre this morning and was asked about the report in the Irish Times that US medical products firm Boston Scientific had an effective tax rate of 4 per cent in 2011.

He declined to comment on the tax affairs of that or any other company but he said Ireland’s 12.5 per cent corporate tax rate was established in Irish law and said the government remained committed to maintaining that rate.

Gilmore said studies showed that the “effective rate of tax that is paid by companies in Ireland is close to that 12.5 per cent rate” adding that differences to that rate could be as a result of reliefs offered for research and development.

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Meanwhile, 10gen CEO Max Schireson said that he anticipated his company will employ as many 150 people over the next five years and 500 over the next ten years and explained why his firm decided to expand in this country:

YouTube: Hugh O’Connell

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Hugh O'Connell

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