Tax

Ireland risks losing foreign investment to UK due to ‘out of step’ corporate tax rules

PwC has warned that with new OECD rules in place, Britain is now a ‘key competitor’ as a location for holding US firms

With many multinationals now seeking to establish a single holding location for their operations, powerful business groups are calling reforms to Ireland’s corporate tax regime. Picture: Getty

Ireland risks losing overseas investment to Britain unless it simplifies its corporate tax structures as a matter of “urgency”, powerful business groups have warned the government, as a global shake-up of tax rules pushes multinationals to re-examine their international operations.

PwC, the professional services giant, has told the Department of Finance that the UK is now a “key competitor” to Ireland when it comes to courting US firms, with many now seeking to establish a ...