Oireachtas Joint and Select Committees

Wednesday, 1 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Ms Ann Nolan:

Okay. I suppose the two ... the major things that were involved there was I was involved in the assigning of licences to IFSC companies which ... the last number of licences were done by competition, so I ran the competitions for companies that wished to get licences in the last two or three rounds of licences for the IFSC. And the other major piece of work I did in there was to integrate the tax system between the IFSC and the non-IFSC tax system because the IFSC had had a 10% rate, it was moving up to a 12.5% rate, and the rest of the tax system was moving down to a 12.5% rate, but there were a number of other aspects where the IFSC ... of the taxation where the IFSC was treated differently to the parts that were outside, so my role was to develop plans to integrate those two.

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