Irish Development Agency woos British businesses

News Article - Wednesday, May 07, 2008

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The Irish Development Agency is attempting to attract more investment in the country from the UK.

Following recent changes to the British taxation system, Ireland is attempting to attract businesses with lower rates of tax.

The Telegraph reports that firms in Britain have been receiving letters from the Irish Development Agency (IDA) urging them to consider relocating their business.

Accounts software can be used by firms to keep track of their tax responsibilities and provide a clearer picture of their business financials.

Julie Moran, finance director of online marketing company Latitude, told the newspaper that the letter from the IDA pointed out that she could reduce the corporation tax rate paid by the company from 28 per cent to 12.5 per cent by moving to the Republic of Ireland.

Business leaders have hit out at plans by the Treasury to tax multinational companies on earnings generated outside the UK, while other changes to the tax system have also hit smaller firms.

Advertising giant WPP has announced that it is considering leaving the UK because of tax increases that could cost it millions of pounds each year.

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