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April 25, 2008

Lisbon Treaty "Will Not Affect Corporation Tax or Inward Investment"


Fianna Fail T.D. for Kildare North, Áine Brady, has said that the provisions of the EU Lisbon Reform Treaty have nothing whatsoever to do with Ireland's corporation tax rates or inward investment strategies.
“Opponents of this Treaty are trying to claim that this treaty will affect our corporation tax regime and our inward investment strategies. This is simply untrue.”  

“The role of the European Union in the area tax matters is very clear. The EU cannot make any decisions in the area of taxation in Ireland or elsewhere unless it has the unanimous support of all 27 EU member states. In other words, Ireland has a veto in Europe on any proposed tax changes.”

“We should reflect on one key point.  Why is it that all the main Irish political parties and business groups such as IBEC, the IDA, US multi-nationals located in Ireland, the Chambers of Commerce in Dublin and in Cork have all called for a Yes vote? None of these groups would call for a Yes vote if they thought for one moment that this Treaty would affect our corporation tax rate into the future. The Irish corporation tax rate of 12.5% has played a vital and a pivotal role in helping economic growth in our country.”
“The ratification of this Treaty is very positive from an Irish economic viewpoint. It sends out a re-sounding signal to companies and to investors around the world that Ireland is a leading and respected member of the EU that is centrally involved in European Union policy making.”
“This Treaty will ensure that the EU puts in place structures which will allow it to bring forward legislation in a more simplified manner and will help to strengthen the European and Irish economies and help job creation and investment into the future.”
“In 2006, Irish based companies exported over 56 billion Euro in goods and services to the other 26 member states of the EU.”

“Under the terms of the EU Lisbon Reform Treaty, The European Union will not affect Ireland's existing policies in the field of inward investment strategies in any way whatsoever," concluded Deputy Brady.