Intel Tax Director Speaks On Importance Of Low Irish Corporate Taxes
Delivering the keynote speech at the 17th Annual Tax Research Network (TRN)
Conference, held at the National University of Ireland, Galway (NUI Galway),
Intel's Vice-President of Finance and Enterprise and Director of Global Tax
and Trade stressed the importance of tax considerations when deciding on a business
location. Addressing delegates on the subject of ‘Tax and Business Aspects of Site
Selection’, Nanci Palmintere revealed that although
other factors come into play when multinationals consider where to locate their
operations, such as the presence of a skilled workforce, transport infrastructure,
land availability, and business costs, tax levels are a key consideration. Explaining that Ireland's 12.5% corporate tax rate makes it an attractive business
location for firms such as Intel, Ms Palmintere went on to caution, according
to an Irish Independent report, that "alterations to the tax system could
have an impact on large corporations coming to a country". Warning against any form of tax harmonisation, she further observed that: "There needs to be consistency and transparency in the operating conditions." This was the first time that the Tax Research Network has held its annual conference
in Ireland. Delegates attending the conference on Thursday and Friday reportedly
included academics, representatives from tax and accounting industry bodies,
tax executives, and representatives from the Revenue Commission and the UK's
HM Revenue and Customs. .
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