Comment from Deirdre Power, partner, Deloitte on Budget 2012 and Financial Services
The reaffirmation of the 12.5% tax rate, the announcement of a new Special Assignment Relief Programme (SARP) and Foreign Earnings Deduction measures are very strong messages to the international community that Ireland is open for business.
For MNCs who have International Financial Services operations in Ireland, these are welcome announcements.
Hopefully the level of changes to be outlined in the Finance Bill will help Ireland recover some of it lost lustre in the area of attracting key executives and talent to Ireland, and the related operations and businesses that they bring here.
The successful delivery of an attractive SARP will have achieved the number 1 tax priority for the International Financial Services sector.