Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

The debate on the amendment has been very good. If I was Minister for Finance, I would not start to discuss corporation tax or any other tax in the open. One must be careful in discussing any tax because if we start to do so, it will affect consumers and the way the markets operate. Whether it is putting a tax on petrol, there will be a response. However, it is welcome that the OECD report can be the starting point in terms of what we will discuss. As I do not have the information, I am not making any assumption about what is happening, but I am concerned that transfer pricing is taking place which, as the Minister said, in the majority of cases is linked with intellectual property rights. There is a double taxation issue, but there are also issues such as the taxation gaps between countries, as referenced in the OECD report.

I hope this committee can have a sensible debate in which the facts will be put on the table. I am very conscious that this country is under attack in terms of its 12.5% corporation tax rate.

I do not want to assist anybody in trying to undermine our efforts to retain the 12.5% rate, but what I want as an Opposition spokesperson are the facts in order that I can be convinced one way or another. The US Congress and the UK Parliament have discussed this issue, while the Australians have been critical. As I do not have the ammunition or information to say this is or is not the case, I hope the commissioners can come up with a response by June because it must take place this year. We should also have a session on it. On that basis, I will withdraw the amendment.