Please select a service we provide from the menu.
Login to retrieve or track an existing case.
Lower corporation tax would 'boost' Northern Irish economy
09/05/2008
Having a lower level of corporation tax would act as a boost for Northern Ireland because it would help attract more "profit centres", it has been claimed.
Nigel Smyth, director of CBI Northern Ireland, told BBC Radio 4's The World at One programme that although more businesses have moved operations into the province they are "cost centres" - company services such as call centres - rather than profit-making enterprises.
He said that it is a company's decision whether they maximise profits in Northern Ireland or elsewhere.
"At the moment there's no incentive to maximise those in Northern Ireland so an additional tax incentive, whether that is corporation tax or additional incentives, would be an extra boost to help make a transition," he commented.
Rates of corporation tax in the UK are currently 28 per cent, as opposed to the 12.5 per cent rate in the Republic of Ireland.
Solicitors in Northern Ireland can advise on the best way to minimise tax bills.
Contact us for legal advice
Nigel Smyth, director of CBI Northern Ireland, told BBC Radio 4's The World at One programme that although more businesses have moved operations into the province they are "cost centres" - company services such as call centres - rather than profit-making enterprises.
He said that it is a company's decision whether they maximise profits in Northern Ireland or elsewhere.
"At the moment there's no incentive to maximise those in Northern Ireland so an additional tax incentive, whether that is corporation tax or additional incentives, would be an extra boost to help make a transition," he commented.
Rates of corporation tax in the UK are currently 28 per cent, as opposed to the 12.5 per cent rate in the Republic of Ireland.
Solicitors in Northern Ireland can advise on the best way to minimise tax bills.
Contact us for legal advice
Bookmarks
