Sir, - Fintan O'Toole in his recent article on social welfare fraud, took a swipe in passing at foreign multinationals for juggling their profits in Irish-based subsidiaries, to take advantage of our 10 per cent Corporation Tax. This is a one-dimensional analysis of the position.
Inflated profits, even taxed at to per cent, result in inflated tax payments to the state. Secondly, multinationals would not be attracted to invest in Ireland without incentives such as the 10 per cent tax rate. Nobody invests in Ireland because we re such nice people. - Yours, etc.,
Rochestown, Cork.