Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

It is our treaty as well. I know it is in the middle of renegotiation. It will be interesting to see how the new US Administration will deal with that.

The point I am making is that we have established a practice that income from property can be treated differently. We have primary taxing rights, regardless of where the individual resides. All the other countries have secondary rights. What the Minister for Finance is doing in this section is allowing for a tax leakage from people who really benefited from the system and who will continue to do so. It will be attractive for them to continue to invest here, given that it is a 20% withholding tax but it would only be 15%, for example, in the case of an American investor.