Mr. Jim Clarken:

The OECD definition is limited. I will not engage in semantics but any destination which facilitates, inadvertently or otherwise, grand-scale tax avoision or profit shifting can be considered detrimental to other countries. That is where we would be positioning this. Looking at a number of indicators, we described how Ireland plays out within that system. More importantly, going back to the core argument, there is a real global problem and Ireland is somehow part of it. It is up to us to do everything we can as part of a multilateral arrangement to improve that system for the benefit of Irish citizens and people all over the world. It is possible and doable.

I would contend an earlier assertion about BEPS. Transparency is not at the heart of BEPS. We are not talking about public country-by-country reporting, public beneficiaries of ownership or publication of tax rulings. Had it not been for the US Senate inquiry, we would not be aware of the Apple situation? Without having the level of transparency needed, we may see situations like this again, with or without BEPs. This has to go to the heart of what needs to be done and transparency needs to be central.