• Ireland after US Tax Reform–What does it mean for business?
  • July 27, 2018 | Authors: Taylor M. Kiessig; Aaron M. Payne
  • Law Firm: Eversheds Sutherland (US) LLP - Washington Office
  • The recent Tax Cuts and Jobs Act (TCJA) significantly changed how the US taxes multinational businesses, including those with operations and investments in Ireland. Upon examination, multinational businesses are likely to conclude that Ireland remains an attractive jurisdiction for investment.

    • Ireland, which has a competitive tax system and offers access to the EU market, is an attractive jurisdiction in which to invest.
    • The TCJA included complex international provisions, such as the new tax on global intangible low-taxed income (GILTI), the new deduction for foreign-derived intangible income (FDII) and the new base erosion and anti-abuse tax (BEAT).
    • While these provisions significantly impact multinational businesses, they apply to all jurisdictions and do not disadvantage Ireland, which remains attractive, relative to other jurisdictions.