Oireachtas Joint and Select Committees

Thursday, 14 December 2017

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Paradise Papers (Resumed): Allied Irish Banks

9:30 am

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Mr. Byrne read Colm Keena's article and this is one of the claims within it. I will read it to refresh Mr. Byrne's memory. It states:

In 2006, AIB was introducing a centralised transaction processing and data storage capability in the Republic. In February of that year, Ray O'Connor, the head of group taxation with AIB in Dublin, wrote to Howland in the IOM suggesting that they get legal advice on whether outsourcing their data to the Republic might create a risk for their offshore branch.

"Under current Irish legislation [this is a quote from the document that has been seen] one relevant point is whether the data could be within the "power, possession and procurement" of AIB plc and therefore within the scope of a potential information request from Revenue. ...

Is this not AIB plc basically facilitating its offshore entity to make sure that it was completely out of reach of the Irish tax authorities while at the same time the witnesses knew damn well that they had Irish residents who were using that offshore account to avoid taxation in this State?

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