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Bruton defends Irish tax practice
25 Jul 2014 17:05
Minister for Jobs, Enterprise and Innovation Richard Bruton has said that the Government does not promote or encourage companies to engage in any practices, which bring little or no substance in terms of jobs or economic activity to Ireland.
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Mr Burton was speaking after President Obama criticised US companies, which he said were exploiting a legal loophole to reduce the taxes they pay.
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Mr Bruton said that the solution lay in the United States and he said, he did not think there would be any loss to Ireland if there were changes to US laws.
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In an interview on CNBC, Mr Obama said businesses who relocate their headquarters to countries with lower tax rates, such as Ireland, are "gaming the system".
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