Mr. Brian Keegan:

Because, in common with all businesses, it wants more business. It is as simple as that. One of the points we can sometimes overlook - it is a commercial reality, although I know that it is not a comfortable one for a lot of businesses - is that, in my experience - I have been involved in the tax sector for 30 years - most businesses regard tax as another cost. It is a cost to be managed in the same way as manufacturing, lighting or heating costs are managed. As a nation, we have recognised this since the late 1950s. First there was export sales relief, which was followed by the 10% manufacturing rate, corporation tax from 1980 onwards and, subsequently, the 12.5% rate of corporation tax. When one is trying to attract business to a small peripheral country, one uses whatever tools and levers one possibly can. It may not be acceptable in many quarters and I understand why. People are looking at their own tax bill and saying: "We have to pay so much. Why aren't other companies paying as much?" The reality is that businesses are more likely to migrate to where they can manage tax as a cost. Whether that is right or wrong is the subject of a separate discussion, but I am answering the Deputy's question straight.

To give another point of view, Dr. Stewart mentioned a justifiable reason for not having country-by-country reporting. The United States has indicated that it will not do business with any other country which provides for public country-by-country reporting. Why is it doing this? It is because it has a concern about confidentiality for its own corporates. I am not saying all of these things are right or wrong, but I am trying to give a straight answer to the Deputy's question as to why a company such as KPMG might be advertising in this way.

I have one last point to make about some of the structures used. Just because tax is not paid in Ireland does not necessarily mean that it is not ultimately paid somewhere else. That is a point worth making in the context of multinational tax planning.