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

First, we are participating in a negotiation. This is not a debate, it is not an academic process. This is a negotiation which will be unfolding across more than 120 countries within the OECD and clearly the very largest countries within the debate, namely those in the G7 and G20, have made the case for a global minimum effective tax rate. However, while the US Government has said what the figure should be in its view, we have not seen other figures come from other large countries and we have not even seen the principle being debated, let alone negotiated within the OECD. Consequently, I do not see the issues the Deputy is referring to developing at the moment. As I said, in this process, I will be making the case for the 12.5% and standing behind the principle of tax competition. However, it is the case that this is a process we are going to have to engage in. Ireland's tax policy has been influenced by the OECD and given we see ourselves as reputable and important stakeholders in the global tax code it is important we stay inside the OECD framework and inside that framework I will be making the case as I have just outlined.