Business Services Industry

Ireland's tax rate secure from EU interference; World Captive Forum.(10% corporate tax rate)(Brief Article)

Business Insurance, November, 2001 by Winston, Paul D.

PALM BEACH GARDENS, Fla.-Regulatory, legislative and political changes in the European Union are unlikely to diminish Ireland's attractiveness as a captive domicile, a Dublin tax attorney says. The corporate tax rate of 10%-which is applied to captives that are based in Dublin's International Financial Services Centre-is one of the domicile's most attractive features but is being phased out in favor of an eventual 12.5% tax rate within all of Ireland.

It is more than low tax rates, however, that make Ireland a good choice for captives, said Greg Hollingsworth, a solicitor with William Fry Tax Advisers in Dublin. Other attractions include the country's predominant use of the English language, direct access to other E.U. markets, participation in the euro...

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