Oireachtas Joint and Select Committees
Wednesday, 14 June 2017
Committee on Budgetary Oversight
Corporation Tax Receipts: Department of Finance and Revenue Commissioners
3:00 pm
Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source
I have to be honest and say I understand Mr. Howard is under some constraints but businesses did not develop a whole lot of new intellectual property overnight. What they actually did is an accountancy exercise where instead of paying themselves royalties they relocated the intellectual property here and instead of avoiding tax by getting the allowance on royalties, they now do not pay tax by getting the allowance on machinery and capital allowances on intangible assets. That is what they have done. Let us be absolutely honest. It is part of the aggressive tax avoidance of these companies. That is really what it is.
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