Irish drug industry fears bailout tax terms

Any increase in Ireland's corporation tax rate as part of a financial bailout could hurt the country's rapidly expanding pharmaceutical industry, currently its largest contributor to corporation tax.

Ireland is in talks with the European Union and the International Monetary Fund regarding a potential rescue package to stabilise the Irish banking system and protect the euro. So far Irish leaders have ruled out any increase in its corporation tax rate as part of the deal. But media reports have suggested that member states may try to force an increase to guarantee a return on their investment.. read more.