The EU Commission’s ruling on Apple will affect future foreign direct investment.
That is according to the Chief Executive of the IDA, Martin Shanahan, as reported in the Irish Independent.
The Abbeydorney native says the ruling will make it much more difficult to attract multinationals to the country, saying the decision is not alone unhelpful for Ireland, but for Europe as well.
Mr Shanahan adds the Commission is imposing its 2016 view of tax on historical international tax content.
If this is allowed to stand, he claims there will be no certainty for foreign investment in any European country.
Mr Shanahan adds Ireland does not do any tax deals and it is a gross mischaracterisation to say otherwise.