Oireachtas Joint and Select Committees
Thursday, 2 February 2017
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
EU State Aid Rules - Investigation into Preferential Tax Rulings: Minister for Finance and Office of the Revenue Commissioners
9:30 am
Michael Noonan (Limerick City, Fine Gael) | Oireachtas source
No, I have not seen any analysis of that. Everyone's tax affairs is confidential, whether personal or corporate tax affairs, and the Revenue is obliged to keep the tax affairs and the tax details of all companies confidential. I would not have access to confidential data. When the Revenue gives me information it does it globally, referring to the sectors rather than individual companies. The reason we know about NAMA is that it published this in the quarterly report. Have we any idea of what was lost? The Revenue has put in a figure of €50 million. That was the advice it gave me to include in the estimates for 2017. It expects to collect another €50 million. On the face of it, one would expect more than that to be collected but it says the change in the law will lead to a change in practice, so that companies will structure themselves differently. If things were allowed to continue, the amount of tax that would be collected would be bigger but we have to wait and see. It is very hard to forecast these things.
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