High income tax rate deterring companies from moving to Ireland, says Irish recruitment firm
An Irish recruitment firm claims that Ireland's income tax rate is stopping companies from moving here after Brexit.
Executive search firm Ardlinn, part of the Cpl Resources Group, said Ireland's high rate of income tax is the biggest impediment to international businesses and top-level talent from relocating here.
The Irish recruitment company, which is working with clients in the UK and around the world, said single earners in Ireland face among the highest marginal tax rates in the EU and "a very high marginal tax rate is reached at a relatively low salary".
They also said that, while marginal tax rates for couples at the average wage are below the EU21-OECD average, they sharply increase with income.
Ardlinn Chief Executive, Áine Brolly, is calling on the Government to use Brexit as an opportunity to cut taxes in the upcoming Budget.
She said: "As the Brexit fall out continues businesses we are working with are still conducting research on how Dublin compares with Frankfurt, Luxembourg and Paris.
"A reduction in the top rate of tax would position the city very positively in boardrooms in the UK and internationally.
"The language, career opportunities, education and the standard of living is attractive but our tax rates are a real stumbling block."
Ireland’s top marginal tax rate of 55% is considerably higher than other EU countries with Germany’s rate 10% lower.
