Written answers

Thursday, 26 March 2009

Department of Finance

Foreign Direct Investment

4:00 pm

Photo of David StantonDavid Stanton (Cork East, Fine Gael)
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Question 37: To ask the Minister for Finance his latest assessment of tax changes in the USA which might adversely affect Irish interests; and the initiatives he has taken to try to pre-empt such moves; and if he will make a statement on the matter. [12603/09]

Photo of Brian Lenihan JnrBrian Lenihan Jnr (Dublin West, Fianna Fail)
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The new US Administration has not yet given any real indication of its main focus in terms of international taxation. That said there has been a lot of speculation about potential changes to the US system of deferral whereby multinational corporations can defer paying US taxes on the profits of their subsidiaries overseas until they return them to the US.

I want to assure the Deputy that the Minister for Foreign Affairs, through the Embassy in Washington together with my own Department and the IDA work in close collaboration in seeking to address any policy proposals including those in relation to taxation which could affect foreign direct investment in Ireland. Issues that may have implications for Ireland are subject to focused discussion with US policymakers within the overall framework of a shared commitment to promoting the consolidation and growth of our economic relationship.

The recent Saint Patrick Day meetings in Washington afforded us further opportunities to put forward our case in a considered and informed manner.

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