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

The 1998 report compiled by the Department was very good, particularly because it examined the various loopholes. It is the job of companies to exploit loopholes and it is our job, as legislators, and that of the Department of Finance to close them. In 1998 the tax residency rules for companies were changed because it became evident that they were exploiting them. It was decided then that any company registered in the State which did not have a tax residency would automatically be regarded as being tax resident here. The only exception in this regard related to companies that were associated with other companies. The difficulty is that the companies to which I refer which are not paying tax anywhere in the world are associated with other companies. Would it be possible to amend the position, via the forthcoming finance Bill, whereby if a company which is incorporated in this State but which is not tax resident in any jurisdiction, would automatically become tax resident here?