Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

It is 6.8% of the pre-tax profits. The European Commission's effective figure would confirm that, whereas effective rates elsewhere - according to a paper we received recently from the Oireachtas Library service - showed that similar implicit rates across Europe are very much higher. Putting that together with the point about research and development, there are other ways in which taxable income is reduced. I would like to ask both Mr. Keegan and Mr. McCaughey about that. How is it that our implicit rate is so much lower? Is it to do with abuse of research and development tax breaks or other tax breaks that allow companies to write down the amount of their taxable profits?