Catherine Connolly (Galway West, Independent) | Oireachtas source

I welcome Mr. Cody back. I wish it was the multinationals we had before us but Revenue is the second best in this regard. The context was set during this morning's session and in the Comptroller and Auditor General's chapter, which Revenue knows well, regarding the variation in the collection of corporation tax, with the effective rate ranging from 12.5% to 0%. I am sure Mr. Cody watched this morning's proceedings. Colleagues have mentioned the legitimate ways to avoid paying tax using research and development credits. Is it correct that for every €4 spent on research and development, €1 comes back?