Executive remuneration in Ireland
01 June 2012
The issue of executive remuneration is a hot topic around the world with governments keen to reduce executive packages and bonuses. Olivia Lynch of KPMG explains how Ireland is treating this topic through the use of the recently introduced special assignee relief programme and why the country wants to be the number one destination for foreign direct investment in Europe.
There is little doubt that Ireland's economy has been affected by the international economic crisis. However, in spite of the challenges faced by the Irish economy, many multinational organisations are still setting up businesses in Ireland for the first time or investing in and further developing their existing Irish businesses. In IBM's 2011 Global Location Trends Report, Ireland was ranked number one for value of investment projects and second for inward investment per capita. In a speech to a recent gathering of US investors, former president Bill Clinton noted that major corporations would be "nuts" not to take advantage of this "unique time" to invest in Ireland due to low property values and a highly educated workforce. In recent months large multinationals like Apple, SAP, Cisco and Allergan Pharmaceuticals have announced plans to expand their operations in Ireland and these are not isolated cases. Ireland has an enviable list of...
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