BRICS measure a boost for exports to Emerging Markets
Commenting on the introduction of the foreign earnings deduction, Pat Cullen, Tax Partner, Deloitte said:
“Exports have been the lifeblood of the Irish economy since the crisis emerged but the reality is that vast majority of exports by indigenous companies is derived in the UK and Europe. This measure, which is designed to place staff in the BRICS countries, will give Irish companies a physical presence in fast growing markets and enable them to make new contacts, research markets and in many cases take that first important step towards earning foreign income.
“The scheme needs to prove its worth but if it does, as we would expect it to, it could be the first in a series of measures to promote trade into BRICS and other fast growing economies.”
For full analysis of the taxation measures announced in Budget 2012 today please visit www.deloitte.com/ie/budget 2012.
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