Paddy Burke (Fine Gael) | Oireachtas source

I will be brief. I welcome the delegation. It has been stated that multinational groups will deal with a single tax administration within the EU, a principal tax authority that will be a one-stop-shop. However, the common consolidated corporate tax base, CCCTB, will have the ability to drive every parent company out of the EU. If the parent company is outside the EU, it can then go to whichever member state in which it decides to have a business. It can go to a country with a low tax system or the most favourable taxation system. Parent companies will leave the EU wholesale because they will be able to decide in which country they will be taxed favourably through the one-stop-shop.