Oireachtas Joint and Select Committees
Tuesday, 13 April 2021
Joint Oireachtas Committee on European Union Affairs
Impact of the Comprehensive Trade and Economic Agreement on Irish-Canadian Trade and Relations: Discussion
Michael McDowell (Independent) | Oireachtas source
I understand that there is an exclusion for letterbox companies and that there has to be a substantial connection, but I am talking about substantial companies. There are substantial companies created and established in Canada that have American shareholders. I think those American shareholders can decide to operate through their own companies when investing in Ireland or through a Canadian company which has a real connection to Canada. In those cases - not letterbox cases - is there effectively a back door for multinationals, which are established on both sides of the US-Canadian border, to cherry-pick and take advantage of investing through an established Canadian company? That kind of protection would not be afforded by Ireland to an American company or by America to Ireland under existing trading arrangements.
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