New tax proposals could see American multinationals based in Ireland pay tax on it's profits here
It's feared Joe Biden's idea for a minimum tax rate regardless of where companies are based will impact on foreign direct investment here.
It would mean companies would pay additional tax on top of Ireland's corporation tax rate of 12.5%
It's part of a two-trillion dollar infrastructure plan, which was revealed by the US President yesterday:
"It's not a plan to tinker around the edges. It's a once in a generation investment in America, unlike anything we've seen or done since we built the Interstate Highway System and the space race decades ago. In fact, it's the largest American jobs investments since World War Two."
More from Cork
-
Lord Mayor Of City Felt Privileged To Represent Cork During Such A Difficult Time As He Faces Into Last Month In Office
Councillor Joe Kavanagh will be handing over the mayoral chains outside of City Hall for the first time ever on June 18th due to the pandemic
-
Expert calls for people to reduce meat intake
Eating too much meat can increase the risk of serious illnesses by as much as 30%.
-
International Care Day Is Being Celebrated At The Bessborough Centre In Blackrock Today
The event highlights the positive impact of the experience of young people in care
-
UPDATE: Teenage Girl Killed And Three Teenage Boys Injured In Knocknaheeny Crash
It's understood the teenage driver of the car fled the scene on foot
-
Angry Farmers To Stage Protest Outside Aldi in Mitchelstown Later
They're appealing to retailers to come to the talks table
-
UPDATE: Toddler Who Was Injured At Her Home On The Boreenmanna Road Has Died
The two year-old was rushed to hospital with traumatic head injuries