Ireland has been seen as one of the most viable nesting place for starting businesses. Its stable tax proposition to corporations is more than enough to attract investors and financiers to put up a trade in the country. Businesses will surely flee if this was increased and it will destroy Ireland’s image as a haven for firms.
According to Willie Walsh, who is the chief executive of British airways, said that Ireland has a attractive 12.5% corporation tax rate. He doesn’t see that Europe will force Ireland to increase on its imposition as this will affect the already feeble and delicate economy.
Having pressure from outside forces will just put the country in a brittle situation who’s already suffering in the finance sector. It will be pointless to have Ireland do something that can destroy them in the end.
Walsh also added that Ireland will not be considered as a tax base for British Airways because the airline industry works in a totally different manner as they are taxed in their main areas of operation.
BA chief executive also revealed that they are looking at Shannon as a place where they can expand and they are focused on destinations such as Washington and Boston. This will boost Tourism for Ireland and can surely help in fighting the economic crisis.
