Mr. Seamus Coffey:

This is related to the profits linked with the intangible assets coming to Ireland. Our contributions to the European Union are based on the gross profits. Companies can claim deductions to reduce their net taxable income and reduce it significantly such that we end up collecting very little additional tax on huge gross profits. On the intangible assets that have been brought onshore recently, we are probably looking at additional EU contributions of around €200 million per annum. The additional corporation tax collected in that regard is close to zero. As the capital allowances run out, we may recoup some of the cost in the future, but currently we are paying approximately €200 million in EU contributions based on our gross national income, on which no additional corporation tax is being collected.