Moves to reform US tax rules could produce an unexpected bonus for Ireland if the decision taken by Accenture's board of directors to relocate its corporate headquarters from Bermuda to Dublin is supported by shareholders.

The Obama administration is determined to tighten rules that allow firms to defer tax payments on overseas profits if earnings are ploughed back into foreign subsidiaries, which is prompting many large firms to look to sympathetic tax regimes in Europe.

In a statement, William Green, Accenture's chairman and CEO, said Ireland "has a long history of international investment and long established commercial relationships, trade agreements and tax treaties with European Union member states, the United States and other countries around the world where Accenture does business."

Ireland is part of Accenture's largest geographic region, Europe/Middle East/Africa (EMEA), which accounts for nearly half of the company's total net revenues. The firm, which opened its first office in Ireland 40 years ago and has become Ireland's largest management consulting, technology services and outsourcing provider with 1500 employees, will establish a new corporate support team in Dublin. A spokesman for the company refused to comment on the number of new jobs that would be created, although one industry analyst - who asked to remain anonymous - suggested that as few as 10 new positions would be created by the move.