Hi! My name is Ciaran Kavanagh and this is my first ever blog post, its all very unusual to me. A few things to know about me are I am from Borris in Co.Carlow. I am twenty one years old and I am currently in my fourth and final year of Bachelor of Business in SETU. I love attending college so this year will be strange to me as I am nervous to graduate! I chose the accounting stream last year and this year will be similar to last year, hard and very exam based. My favourite hobbies is sports! I love watching, talking about and playing sports. My favourite sport is soccer. My favourite team is Chelsea, even though they haven't been very good recently 😂 The module I am writing this blog for is Digital Economy and from what I've grasped so far is we will be learning abou...
Hi! Welcome back to my blog. In this post, I will be looking at some reasons why Ireland is a good country to invest/do business in.
Corporation Tax Rate
One of the biggest reasons so much foreign companies directly invest in Ireland is because of our low corporation tax. Our corporation tax comes in at 12.5%, America's corporation tax is 21% so massive corporations such as Apple, Facebook, Google and Microsoft have all set shop in Ireland to pay less tax on their profits 💵. However, due to an agreement with the OECD, Ireland will be raising to their corporation tax to 15% along with hundreds of different countries, so we will have to see how that will affect foreign investment when the change is made.
English Speaking
Ireland is the only English speaking country left in the EU. Obviously, with English being the largest spoken language in the world, its a massive incentive for foreign countries to do business in Ireland to avoid language barriers. 🅴
Skilled Labour
Ireland has a young, flexible, adaptable and mobile workforce, Ireland ranked lowest in the world in having difficulty in filling jobs at just 2%. (Manpower’s 2014 Talent Shortage Survey). Ireland have the youngest population in the EU. 💂
Tax Deductions for Landlords.
In the 2019 budget, Ireland announced that there will be a 100% tax deduction on interest incurred for loans used to purchased, repair or restore residential property for rental purposes. 💲
Safety
Ireland ranks 7th in the European Union for safety. 👮
Education
According to a study in 2022 by the Campus Advisor, Ireland ranks fifth in the world for higher education. The survey consisted of various factors such as cost, quality, diversity, social life and Arts and Culture. It ranks third in the EU.💻
Low Unemployment Rate
As of July 2022, Ireland’s unemployment rate was a low 4.2% according to Trading Economics. 👷
Gateway to Europe
Ireland is the only country which is a member of the EU, has a membership to the Eurozone and is English- Speaking. Ireland serves as a gateway to Europe and a global business hub, providing access to 741 million potential customers. 💶
Advanced Technology
Ireland has a charming background when it comes to achievements in science and technology. It continues to dominate the global stage as far as research and tech advancements are concerned. 💹
Employment Law
Ireland has a very detailed and well laid out employment law to protect their workers and their rights. This includes a minimum wage of €11.30 per hour. 📋
Great post. Very insightful!
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