Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I have a question on the new section.

In respect of anti-avoidance, in the context of the Paradise Papers that are being revealed every day, although it is early days yet has the Minister any indication from Revenue that it needs to strengthen its anti-avoidance powers to deal with transactions or tax structures which, in its view, are designed to reduce or eliminate a tax liability in the State in the context of offshore activity? The Minister introduced an initiative in budget 2017, which ended up bringing in €79 million when the estimate was €30 million, but has he had or will he have discussions with Revenue prior to the completion of the passage of this legislation on the question of extra powers, particularly around anti-avoidance, in order that the Revenue can intervene and strike down transactions or structures that are clearly designed to deprive the Exchequer of revenue?