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

This debate will continue and I note there are differing views, even among the members of this small sub-committee on finance. Each of the three members on this side has very different views on corporation tax. I am not trying to raise or decrease the rate in this amendment. As the Minister of State is aware, Sinn Féin's position is to maintain the rate of 12.5% and not to raise or decrease the effective rate of tax. The purpose of this amendment is to seek information and one cannot have a discussion on tax policy without adequate information. I understand the Minister of State's response to Deputy Boyd Barrett and agree one cannot tax income that is not taxable. That is fair enough and I acknowledge the availability of tax credits, carry-forward losses and all those measures that are contained within the tax code.

One could, however, do what is done in respect of income streams all the time, which is to demonstrate in a clear and transparent fashion the effective tax rate for the top 10% of taxpayers in the State. This is known because such information can be acquired from the Government in a clear fashion. Although the aforementioned top 10% of taxpayers can avail of multiple ways to reduce their tax liabilities through reliefs, investments and a range of activities, Revenue has the figures on their total income, the tax they paid and the effective rate of tax. Some areas pertaining to corporate structures are completely different from personal income. Doing this should be possible, however, and the Revenue Commissioners have information on the tax paid by companies, including the income, the taxable income, the taxable profits and so on, that should be capable of being presented to a finance committee or to Parliament in a way that does not interfere with the tax privacy of an individual or company. As to how this should be done, just as I cannot ask the Minister for Finance Deputy Brian Hayes's effective tax rate, because one cannot get such information-----