Mr. Niall Cody:

No, the competent authority, which deals with that aspect. I have spoken at various committees about our resources and how we have invested significantly. These are scarce resources. Traditionally, the transfer pricing audit function was not a significant feature of Irish tax, as we were seen as a low-tax country. In some cases - the past few hours are probably proof of this - people are not satisfied paying 12.5%.

We are now looking at where there is a flow out from us.

Two years ago we set up the international tax division which is part of the wider business tax division. There are now 30 people working in the international tax division. We made a conscious decision when the base erosion and profit shifting, BEPS, process started that we would be involved in all of the actions because it is really important to Ireland and our industrial policy in the context of being a small, open economy in a very turbulent world.