Oireachtas Joint and Select Committees

Tuesday, 17 September 2013

Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation

Base Erosion and Profit Sharing: Discussion with Trinity College

2:55 pm

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

I would appreciate that. Much stock is being put on the OECD report by certain sources in the Government. Professor Barry called it a damp squib and I believe his analysis is 100% correct. I put it to the OECD representative who came before the committee, whose name I cannot remember, that the threat of the US vetoing this is enormous and that Professor Barry's analysis with regard to deferral and the headline in The Irish Times from 1975 to which he referred in previous presentations is accurate. If the OECD report is a damp squib - we will go through all of this - and if it is vetoed by the United States, how will we as a country deal with base erosion and profit shifting? What steps can we take to deal with it? I know it is best achieved through global co-operation and, on a secondary basis, through EU co-operation, but there are actions we can take ourselves. Does Professor Barry have any recommendations as to what we could do to deal with this issue?

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