Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

When it comes to the issue of consolidation, that is, attributing the profits from the base across all the EU countries, a formula is used. Mr. Hession outlines three elements: where sales happen, where staff are located and where companies' assets are. Is there a weighting of these different elements in the formula? Regarding the first element, Ireland is such a small market that we will not make much of an impact. Regarding the second, many multinationals provide employment here. What is the assessment of how Ireland would fare when it comes to the allocation of the base, that is, the allocation of taxable profits across Europe?