Seán Fleming (Laois, Fianna Fail) | Oireachtas source

Today we will resume our consideration of Chapter 20 of the Comptroller and Auditor General's report of 2016. The chapter is on corporation tax. It is important that members of the public remember that corporation tax accounted for 15% of total tax receipts in 2016. This tax has displayed considerable volatility in recent years. Some 70% of all corporation tax is paid by the top 100 companies, and 37% by just ten companies. Such a concentration represents a serious risk to the Exchequer and the payment for public services in the years ahead. The committee wishes to understand fully this risk and how it might best be dealt with.

The area of corporation tax in a global economy is complex and poorly understood by many people. Dr. Brian Keegan, director of public policy on taxation with Chartered Accountants Ireland, was contracted by the committee to provide a briefing to it to develop its understanding. In our first session last week, in private session, he gave us a briefing. We are here today to provide that briefing in public session for the benefit of the public who want to follow the discussion. He is accompanied today by Ms Norah Collender, also from the institute. In the afternoon, we will have further engagement with the Revenue Commissioners and the Department of Finance to bring our consideration of this matter to a conclusion for now.

I draw the attention of witnesses to the fact that by virtue of section 17(2)(l) of the Defamation Act 2009, they are protected by absolute privilege in respect of their evidence to the committee. However, if they are directed by the committee to cease giving evidence on a particular matter and they continue to so do, they are entitled thereafter to only qualified privilege in respect of their evidence. They are directed that only evidence connected with the subject matter of these proceedings is to be given and they are asked to respect the parliamentary practice to the effect that, where possible, they should not criticise or make charges against any person, persons or entity by name or in such a way as to make him, her or it identifiable.

Members of the committee are reminded of the provisions of Standing Order 186 that the committee shall refrain from inquiring into the merits of a policy or policies of the Government or a Minister of the Government or the merits of the objectives of such policies.

I thank Dr. Brian Keegan for the briefing documentation he has already provided to the committee and for the update we received from him in recent days. I invite him to make a brief opening statement. May we note and publish the opening statement and briefing document provided for the meeting today?