Industry development chief denies Apple tax deal
on 19/09/2013 12:48:29
Barry O'Leary told the Oireachtas public accounts committee that all multinational companies paid the full 12.5% corporation tax rate.
Earlier this year, a report by the American senate claimed Ireland had a special arrangement with Apple that saw its profits taxed at just 2%.
Barry O'Leary said that the IDA does not do agreements with individual companies on tax.
"There was no sweetheart deal for Apple, that's quite clear, so it was a mistake," he said.
"That comment should never have been made … it was retracted."
O'Leary also claimed that while a low rate of corporation tax is attractive, it is not the only reason international companies choose Ireland.
"If tax was your only criteria that you were using to make a judgement on an investment, you wouldn't be coming near Ireland - you'd be going to Singapore or Switzerland," he said.
O'Leary claimed it was possible to receive a 0% tax rate in Singapore for 10-15 years.