Oireachtas Joint and Select Committees

Thursday, 30 November 2017

Public Accounts Committee

Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts

9:00 am

Photo of Alan FarrellAlan Farrell (Dublin Fingal, Fine Gael) | Oireachtas source

I will revert to the point, which I thank Deputy Connolly for making, on the expectation of a lump sum such as €13.1 billion, which was broadly speaking plucked out of the air. This company reported $256.8 billion in cash reserves, according to MarketWatch.com, which I just googled a second ago. Mr. Hogan says that it might be difficult or unexpected for the company to come up with the amount in one tranche and that this sort of investment would have knock-on effects for the managers. I am no expert but, regardless of whether the amount is €13 million, €130 million or €13 billion, if the company has it, we should have it because that is what the Commission wants.

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