AirBnB picks Ireland for European headquarters

Fast-growing online holiday rental service AirBnB will set up its European headquarters in Ireland, joining other U.S. technology companies Google and Apple, which take advantage of the country’s low corporate tax rate.

Europe is the largest market for AirBnB’s Web site, which lists anything from furnished homes to spare couches, some for hundreds of dollars a night.

Chief Executive Brian Chesky said in a blog post that the company would set up its European headquarters in Dublin because it was an emerging technology hub with a long tradition of hospitality.

“Dublin is known the world over for its warm welcome. The city has a reputation for being one of the most hospitable and friendliest places in the world,” Chesky said.

Ireland is one of several European Union member states facing scrutiny from the EU’s competition authority, which on Thursday said it was looking into corporate tax arrangements in several countries.

This follows revelations about the tax-planning practices of big international companies, such as Apple and Google, that allow them to pay minimal tax rates. Reuters