Mr. Bert Zuijdendorp:

I am answering the Deputy's question but I have to explain the objective of the CCCTB is to ensure that profits are taxed where they are generated. We believe that a formula is a better measure of ensuring that profits are taxed where they are generated than the current practices based on transfer pricing, which allow for a far greater degree of shifting profits to where they may be taxed at a lower rate rather than where they have been generated.