Kieran O'Donnell (Fine Gael) | Oireachtas source

I welcome Mr. Tang and Mr. Lamassoure. I attended the Committee on Economic and Monetary Affairs on 10 October when representatives from finance committees in Europe were brought into a forum. Both witnesses made presentations on the day. I felt that Mr. Tang in particular did not have a full perspective on what Ireland has to offer so I encouraged both witnesses to come before the committee, if invited.

We as a committee delivered a reasoned opinion on the CCCTB. It was very straightforward. We operated on the basis that the tax competency is a matter for the sovereign state. What was being proposed under the CCCTB was very much contrary to what the economic policy had been for Ireland over many years. It would narrow the tax base. No impact statement had been carried out. The witnesses might give us an update on whether an impact statement has been carried out and what the outcome would be for individual countries.

We are concerned about the arbitrary nature of the asset value in terms of apportionment. The issue in terms of individual countries retaining control over their corporation tax rate is a red herring. It will be about how profits are calculated and apportioned, because that will determine the effect.

Mr. Tang was on "Morning Ireland" this morning.