Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

There is no potential gain to the State because the companies involved pay taxes in Ireland on profits that accrue here. What they were previously doing was using stateless companies incorporated in Ireland to channel profits made elsewhere through this country. These profits would then disappear into the stratosphere. As a result, they would have no tax liability anywhere. There will be a reputational gain for Ireland from this, but there will be no gain in terms of revenue. However, there will be no loss of revenue either.