At the official opening of the new ICAI office in Belfast on Wednesday 16 May, Jim Aiken, Vice President of ICAI, called for the introduction of a corporation tax rate in the North which will equal the prevailing rate in the South. “Reducing the Corporation Tax rate in the North to bring it in line with the South will only create winners”, said Mr. Aiken.

Mr Aiken went on to say that “It is often overlooked that the 12.5% rate in the Republic is focused on trade, and trade only – other company activities attract rates equivalent to the European average. A unified front on the taxation of trading activities on the island of Ireland will attract investment from abroad, and support all island markets to the direct benefit of both economies. We also believe that a corporation tax rate in the North which is in line with the South will encourage investment from South to North as well as from North to South.”

A copy of the full speech is available at Section 2.05.