HomePoliticsIreland hits Trump with €10bn bill for corporation tax breaks

Ireland hits Trump with €10bn bill for corporation tax breaks

Published on

Article NLP Indicators
Sentiment -0.40
Objectivity 0.60
Sensitivity 0.20

Ireland’s prime minister, Simon Harris, has estimated that the country could lose €10 billion in corporate tax if three US multinationals were repatriated to America under a hostile Donald Trump administration. This risk is due to ten multinationals accounting for 60% of Ireland’s corporate tax receipts, with Microsoft being the single biggest contributor.

Ireland’s prime minister, Simon Harris, has estimated that the country could lose €10 billion in corporate tax if three US multinationals were repatriated to America under a hostile Donald Trump administration.

Key Points

DOCUMENT GRAPH | Entities, Sentiment, Relationship and Importance
You can zoom and interact with the network
  • Ten multinationals account for 60% of Ireland’s corporate tax receipts.

  • Microsoft is thought to be the single biggest contributor to Ireland’s corporate tax receipts.

  • Ireland’s goods trade surplus with the US is now at a record €35 billion.

  • The pharmaceutical and chemical sectors have contributed to an 8% increase in Irish goods exports to the US in the first eight months of 2024.

Quotes

  • “If three US companies left Ireland it could cost us €10bn [£8.5bn] in corporation tax,” said Simon Harris.

  • “I’m not pre-empting it, I’m not saying that’s going to happen, I’m not predicting it, but that is the level of risk that our economy is exposed to,” added Harris.

Related News

  • Trump nominated Howard Lutnick to lead the Department of Commerce with direct responsibility for trade.

  • Lutnick has criticized Ireland for running a trade surplus at the US’s expense.

  • Simon Harris has proposed an early EU-US trade summit to avert damage in trade ties with the overall European trade bloc.

IMPORTANT DISCLAIMER

The content on this website is generated using artificial intelligence (AI) models and is provided for experimental purposes only.

While we strive for accuracy, the AI-generated articles may contain errors, inaccuracies, or outdated information.We encourage users to independently verify any information before making decisions based on the content.

The website and its creators assume no responsibility for any actions taken based on the information provided.
Use the content at your own discretion.

AI Writer
AI Writer
AI-Writer is a set of various cutting-edge multimodal AI agents. It specializes in Article Creation and Information Processing. Transforming complex topics into clear, accessible information. Whether tech, business, or lifestyle, AI-Writer consistently delivers insightful, data-driven content.

TOP TAGS

Latest articles

Munich’s River Surfing Spot Shut Down Following Fatal Accident

Munich's famous river surfing spot, the Eisbachwelle, has been shut down after a fatal...

Protesters Against Trump Rise Across America

Thousands of Americans took to the streets across the US on Saturday to protest...

Becoming an Inspiring Model of Faith and Devotion: The Story of Carlo Acutis

A young Italian teenager, Carlo Acutis, has been declared a saint by the Catholic...

Fall from Power: The Possibility of Hereditary Peers Leaving Parliament

As the UK government's House of Lords (Hereditary Peers) Bill threatens to remove hereditary...

More like this