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Although there is no standard rate of taxation that is followed worldwide, economists have agreed that it should be at least 20 percent of the Gross Domestic Product (GDP).
And even though, thanks largely to the tiger's economic boomtimes, the standard rate of taxation now stands at a relatively modest 22 per cent and the higher one at 44 per cent - down nearly a third from that grimmest of periods - Ireland retains one of the higher tax regimes in the European Union.
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