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

With regard to the subsidiaries and companies, there is a directive to avoid double taxation and technical amendments are being made now. Ireland supports the amending directive, which flows from our successful Council Presidency during which we prioritised work in the area of tackling aggressive international tax planning. It is not expected that the proposed changes to PSD in respect of hybrid loan structures will have significant impact in Ireland. The provision is primarily relevant to member states that use the exemption method to grant relief under the PSD. Ireland applies an alternative tax with credit method. We will support the proposed amendment. We supported it in May and I do not know whether it will be ratified on this occasion.