Stephen Donnelly (Wicklow, Social Democrats) | Oireachtas source

Yes. How can we ensure that the Oireachtas does not vote through an amendment to the Finance Act that allows these companies to mark their assets to current market value? It is something that is not afforded to any other individual or company in this country. I refer to years of capital gains being ignored. How can we make sure that the Finance Act does not just apply to property? If it does, then every non-property business in the country can suddenly give itself a loan from the Cayman Islands and avoid paying corporation tax. How can we make sure that the amendment, as passed, does not lock in the massive tax avoidance that has happened to date? How can we make sure it does not do what the big four accountancy firms are saying which is "there is nothing to see here, we are going to continue avoiding taxes for years to come, you guys can exit the country and you will be gone before anybody realises what has really happened"? How can we, in the very short space of time between now and the Finance Act, close the loopholes the big four accountancy firms are saying are in what I believe is a well intentioned amendment?