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

There will be an opportunity to form a view in October regarding where that process stands. If the Deputy is still where he is now at that point, he will be able to form a view on it as well when we get to October. Of course I am aware of the commentary about Ireland, as I have been for a number of years. I have always made the case that we have made far more positive and proactive change to our corporate tax code than we have got credit or recognition for. The final assessment of the reputational impact of the BEPS process will be on individual countries, not just who is in the agreement in October but, more particularly, who will be involved in actually implementing that agreement, what is the speed of that implementation and where countries stand with regard to it.

In terms of the different issues that are at play, I make the point respectfully to the committee that this is a negotiation we are involved in. I want to accept the good faith of others who are involved in it and, because of the sensitivity of the issues that are involved, not speculate too much on what outcomes could be. Having said that, I can still acknowledge that amidst the different issues that we need to have greater certainty on, such as what the base and the rate would be, the Deputy is right to say that there is a language in the current agreement in regard to the scope of carve-outs, but that language is, at the moment, still caveated. These are really important issues for us to understand.

In terms of where we could be at the end of October, there is a range of possible scenarios, involving lots of different countries, regarding where this process could be. Where I would like us to be at the end of October is in a positive place and position with regard to what the end point of this could be. However, we are not there at the moment and I have a lot of work and engagement to do, which I am currently carrying out with a number of countries and with the OECD to see where we could be by October. As the Deputy is aware, I am about to launch a public consultation in regard to the current BEPS text to draw attention to some of the details of that to stakeholders in our society and economy, including in the political system. I aim to have that consultation complete by the start of September and to have a synopsis of the views across our country on this sensitive issue.