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Ireland has low corporate tax rates and favorable tax-treaty terms with the United States.
New members, especially, have used low corporate taxes as a competitive advantage.
It calls for low corporate taxes and a simpler system to attract foreign direct investment.
So the eurozone took the heat, though there was anger at Ireland's determination to maintain its low corporate tax rate.
Irish ministers have stressed its low corporate tax rate is non-negotiable, viewing it as the linchpin of the economy.
Ireland has used low corporate taxes to fuel a surge in investment and sharp reduction in unemployment.
Ireland will not be required to raise its low corporate tax rate of 12.5 percent, something it had strongly resisted.
Its low corporate tax rate and banking secrecy provisions make it a favorite destination for offshore activity.
Meanwhile, low corporate borrowing rates have given companies cheap capital and strong incentives to borrow and invest, aiding corporate profits.
Shire is listed on the London stock exchange, but has its headquarters in Dublin, where it can take advantage of Ireland's low corporate tax rates.
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Foreign investment is still being lured in by low corporate-tax rates.
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