Oireachtas Joint and Select Committees

Wednesday, 6 November 2019

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Finance Bill 2019: Committee Stage (Resumed)

Photo of Paschal DonohoePaschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

We are trying to see if we can get the up-to-date figures to which Deputy Boyd Barrett referred.

I will deal with the different points made and issues raised by Deputies Pearse Doherty and Boyd Barrett. It is our expectation that the application of the changes that we have made in transfer pricing in this Finance Bill will have an effect on intra-group transfers. The reason changes are being made in transfer pricing is to respond to some issues that have developed in this area. I am not commenting on any company that has been mentioned in this discussion because it would not be appropriate for me to do so. I believe the changes we are making in transfer pricing will deal with issues that have been identified in intra-group arrangements.

In many recent Finance Bills, we have made changes to try and deal with the issue of aggressive tax avoidance. We have made the changes that I touched on a moment ago. We have brought in extra tax measures. We have made changes to try to minimise the avoidance of capital gains tax. We have brought in new mandatory disclosure rules. We have strengthened general anti-avoidance measures and have brought in a variety of automatic information exchange measures, all of which we have brought in to deal with some of the issues that have been raised by the Deputies.

I ask Deputy Doherty to consider withdrawing his amendment. I am not in a position to adopt it. I inform the committee that, early next year, I am aiming to update the corporate tax roadmap that I published last September. That roadmap will consider the progress we have made in implementing measures to deal with aggressive tax avoidance and further measures that we believe may be necessary.

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