The move, if passed by Congress, would increase the minimum tax on US corporation's overseas earnings to 21% and the tax would also be calculated on a country-by-country basis.
"In a recent survey 94% of AmCham members reported that their US headquarters has a positive rating of Ireland as location for investment – a finding borne out by recent landmark announcements." "AmCham understands the proposals are at an early stage and will most likely face a lengthy review and amendment process through the Houses of Congress and notes the Senate will produce its own proposals next week," Mr Redmond said.
"So if there is a challenge to the amount of corporation tax collected in Ireland, that is troublesome for you and me and everybody else because it means the tax has to come from somewhere."