Mr. Niall Cody:

The standard rate of corporation tax in Ireland is 12.5% and it applies to the profits attributable to activity in Ireland. There are a couple of exceptions. The research and development credit, which features in the Comptroller and Auditor General's report, comes off that figure. There are many ways of measuring effective tax rates and no agreed method. A report published by the Department of Finance in 2014 found the effective tax rate in Ireland for corporation tax is 10.1%. That takes into account the credits that come off the 12.5% rate.