Intel Tax Director Speaks On Importance Of Low Irish Corporate Taxes

by Jason Gorringe, Tax-News.com, London

08 September 2008

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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