According to a new report Ireland is the second easiest country in the world in which to pay business taxes.
The joint report from Pricewaterhouse Coopers and the World Bank compares business regulation in 175 countries.
It is based on the average ranking of three criteria ; the total business tax rate (Ireland was 13th), the number of discrete tax payments that have to be made (Ireland was 10th), and the time per year required to complete business tax filings (Ireland ranked ten).
Colm Kelly of PwC said that the result puts Ireland ahead of those countries that traditionally have strong pro-business reputations such as Hong Kong, Singapore and Switzerland.
He added that companies in 90% of the surveyed countries rank tax administration among the top five obstacles to doing business, and Ireland's leadership among those countries seeking to attract inward investment gives us a clear advantage.
He said evidence suggests simpler tax systems, allied to low business tax rates can promote economic growth.
