Control over taxation regime is vital in attracting FDI.
ISME, Thursday 27th October
ISME, the Irish Small and Medium Enterprises Association today 27th October, today issued a statement in response to Pierre Moscovici, the Commissioner for Economic and Financial Affairs. The Association highlights its concern with the Common Consolidated Corporate Tax Base (CCCTB), noting its implementation is an encroachment on our tax sovereignty and will impact on our competiveness.
Commenting on today’s commentaries by the Commissioner, ISME CEO Neil McDonnell said “The CCCTB proposal is bad for business and is bad for Ireland. While we recognise the benefits the European Union has on the SME sector, the Association recognises that taxation is a core national competency of member states and there should be no proposal discussed at EU level that seeks to encroach on this competency”
“While this proposal won’t affect our 12.5% corporate tax rate, this proposal if implemented will create a “slippery slope” and eventually lead to an encroachment on member states competency on tax affairs. If our taxation system is undermined and a common tax based introduced this will reduce our competiveness and undermine foreign direct investment”
“Taoiseach Enda Kenny needs to stand firm and put Ireland first by reaffirming that our taxation regime is ours and ours alone to control and that there will be no dilution of it whatsoever” Concluded McDonnell