"Irish corporate tax rates are among the lowest in the world because the government tends to tax consumption rather than production," explains Dave Dyer, who poins ouot, "Irish corporations enjoy tax rates as low as 10%, and that has to be a competitive advantage in the global market."
In his The Dave Dyer Newsletter, he looks to one favorite Irish firm, Icon (NASDAQ: ICLR), a contract research organization (CROs) which conducts research required for clinical trials for pharmaceutical products.
Dyers notes, "The market for CROs is very strong right now because many extremely profitable drugs will be losing patent protection in the next few years and there is lots of pressure to find some replacements.
"ICON is one of the few CROs capable of providing services on a global basis. This gives them the advantage is of running clinical trials in multiple countries at once. Also, regulators actually prefer worldwide trials because they normally provide more ethnic diversity in the subject population."
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