Mr. Seamus Coffey:

It definitely will. Ireland is the only country where foreign companies generate more of the value added than domestic companies. We are unique in the sense that the size of profits of foreign companies in Ireland is far different to other countries. We are not the same. Foreign companies pay 80% of the corporation tax in Ireland. By definition, they are multinational and transnational, and they would fall under the CCCTB. Their sales market is different to ours. Therefore, whether one is optimistic or pessimistic, the threat to our corporation tax base is significant.