The American Chamber of Commerce Ireland has suggested that the high marginal individual income tax rates in Ireland combined with the low threshold for the highest rate create an obstacle to attracting key personnel. This also causes a cost burden for business which has to pay relatively more salary to ensure that net pay is adequate.
Although the Irish Finance Minister has recently suggested that there could be tax cuts in the Budget, currently Ireland has one of the highest marginal tax rates among OECD countries. Ireland has however maintained a low corporate tax rate for many years.
