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

Photo of Rose Conway WalshRose Conway Walsh (Sinn Fein) | Oireachtas source

I understand that but what is perplexing for people is that Revenue obviously advises Government, such as in the case of the section 110 tax arrangement. When Revenue discovered this arrangement - I cannot really understand how, given all of the people in Revenue, all of these things were not discovered earlier- and that it was being used and abused to relieve Irish citizens of up to €350 million in taxes that should otherwise have been paid, is there no provision for Revenue to let the Government know this is happening and to advise that it needs to be immediately closed down? The section 110 arrangement was discovered in 2015 but was not closed until many months later. We need to quantify the figure that was lost as a result of that delay. In the case of the double Irish tax strategy, it was closed for new companies but we see again that the liabilities for that will continue on into 2020 and beyond. There does not seem to be any urgency in closing down these loopholes, which are available to a section of our society while other people are being treated differently.

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