Neasa Hourigan (Dublin Central, Green Party) | Oireachtas source

I will open the session to another round of two to three minute slots if Members would like to indicate an interest in contributing. In the meantime, I will ask some questions of my own.

On corporation tax data and the impact of regulatory changes we may see in the next few years, we saw an effective doubling in corporation tax receipts between 2015 and 2020, when they increased from €6 billion to €12.5 million. There was economic growth during that time but we also introduced changes to the constraints concerning intellectual property, IP, and capital allowances for expenditure on intangible assets. The almost doubling in the growth of corporation tax receipts did not correspond with a similar increase in jobs in Ireland in the FDI sector. Does IFAC consider that there is a considerable level of phantom FDI-led activity in the State? I refer to the use of mechanisms such as corporate inversion and the terms of the IP regulations to simply on-shore profits in Ireland to reduce the tax paid by such companies globally. Do we have enough data on that aspect?