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Ireland tops EU members of business-friendly tax regimes: study

Xinhua, November 23, 2016 Adjust font size:

Ireland's tax system ranks as the most effective in the European Union (EU) for paying business taxes and is the fifth most effective in the world, according to a new study released on Tuesday.

The study, jointly conducted by PwC and World Bank Group covering 190 countries worldwide, confirms that Ireland's tax system continues to be the most efficient in the EU in terms of bureaucracy and administrative burden when it comes to paying, filing, time spent and the amount of tax levied on businesses.

It uses a case study approach so that the same circumstances can be compared across a large number of companies. For many EU countries, the statutory headline rate is significantly higher than the effective rate.

The survey demonstrates that Ireland's statutory headline rate on profits is broadly similar to the effective rate.

Taking labor and other taxes into account, Ireland's total tax rate on corporate profits of 26 percent is much lower when compared with the EU average of 40.3 percent. Endit