Unquestionably a cut in the US corporate tax rate, to perhaps 15%, will make the US a more attractive place to do business. However US groups house operations in Europe principally for ease of access into the EU and other markets. These groups will want to maintain a presence in the EU irrespective of the US corporate tax rate.
In choosing where in the EU to locate or maintain their operations, a 12.5% corporate tax rate will continue to make Ireland a compelling location in which to invest. Hence it is our view that even a significant reduction in the US corporate tax rate should not see any substantial reduction in US investment here.
It is also worth noting that the more controversial, and worrying from an Irish tax perspective, border tax adjustment proposals now appear to be off the table.