Corporate Tax Ireland Detail

About Corporate Tax Ireland Detail

Irelands low corporate tax rate began in 1956 when the government offered a zero tax rate on export profits to attract foreign investment. This export relief was replaced in 1981 by a 10 percent rate on manufacturing profits. In 2003, under EU and OECD pressure, Ireland introduced a 12.5 percent rate on all trading income. The 12.5 percent rate, combined with English language, EU membership, and educated workforce, made Ireland the preferred European base for US technology and pharmaceutical companies. Google, Apple, Facebook, Meta, Microsoft, Pfizer, and Intel all have major Irish operations. Irish corporation tax revenue has been volatile, dependent on a small number of large companies. In 2022, corporation tax revenue exceeded expectations by 10 billion, raising concerns about sustainability.