Mr. Gary Tobin:

The Deputy's characterisation of the position is completely correct. For many years the initial focus at OECD level was on trying to ensure there was no double taxation, but now things have almost flipped around completely. There is a concern about ensuring there is no double non-taxation. The primary focus on this issue is at OECD level through the BEPS project. It could be argued that if the project was not in place, we would almost have to create it at this point because there is such mainstream interest in the taxation of multinationals and such political desire for action to be taken. I am aware that Mr. Saint-Amans was here to talk about the BEPS project. Those involved in it are planning to examine 15 areas in the next 24 months. Like all other OECD members, Ireland will be involved in the discussion groups and, obviously, we will try to do our level best to ensure the outcome is satisfactory from an Irish perspective.

In addition to the OECD initiative, ongoing discussions on taxation are taking place at European level. We have seen some developments in recent days with regard to the financial transactions tax. I understand this committee has asked some of my colleagues to appear before it in the next couple of weeks to discuss some issues in that area. There are ongoing talks on the common consolidated corporate tax base issue. During the course of the Irish Presidency we tried to help that discussion to move forward in what we felt was a realistic way. The international tax architecture is very complex. A number of things are happening in different places. We have prepared a slide - unfortunately, I do not have copies with me - that tries to map the international tax landscape. Many things are happening and there are many moving parts. It is quite a challenge for any jurisdiction, let alone a small jurisdiction, to try to stay aware of and involved in all of the things that are ongoing. As the Deputy said, we are trying to ensure Ireland remains competitive. At the same time, we want to make sure we are a good international partner with our colleague countries in the European Union and internationally.