The new President of the American Chamber of Commerce has called on the government to maintain our 12.5% corporate tax rate.

Ireland is under pressure to push ahead with the issue of a common corporate tax base across Europe during our presidency of the EU.

So far the government has strongly resisted any move to change our low corporate tax rate which is seen as key to attracting foreign investment.

Last week saw the beginning of 6 months of European events in Ireland as our Presidency of the EU got underway.

And it did not take long for the thorny issue of our low corporate tax rate to come up.

No isolated tax policy, says Commissioner

The EU Tax Commissioner Algirdas Gediminas Semeta told an Oireachtas committee that the "day of isolated tax policy" in Europe is over and called on Ireland to push forward the Common Consolidated Corporate Tax Base.

To date the government has resisted any move to change our corporate tax rate as it is seen as a fundamental part of our policy to attract foreign investment.

The American Chamber has also expressed concern about the skills gap in Ireland citing a lack of ICT and language skills as one of the main challenges to jobs growth here.

The Chamber is relatively positive for the year ahead and expects a number of FDI announcements but its warning against any complacency in government circles.

Today the newly-appointed President of the American Chamber of Commerce Peter Keegan - who is also Country Executive with Bank of America Merrill Lynch - 

Today the newly appointed President of the American Chamber of Commerce Peter Keegan - who is also Country Executive with Bank of America Merrill Lynch - agrees with the government's view and has said "the most important thing is that we stick to our headline rate".

He also said Ireland needs to be part of the debate with the OECD about "where and how" multinationals pay their tax.

Mr. Keegan also highlighted the skills shortage in Ireland again - particularly when it comes to ICT and languages.

And with every second job in Ireland going to someone from outside of the country, Mr. Keegan has said it is important for Ireland to remain attractive for people to come to work.

He has urged the government not to put anymore "tax on talent" in the form of a tax on higher earners.

Meanwhile the Finance Minister is moving to reassure multinationals that the Irish corporate tax rate will not be changing.

There is pressure on Ireland to sign up to a new pan European rate of corporation tax.

Michael Noonan has told a gathering at Vistakon in Limerick where 100 new jobs were announced today that the rate will not change.