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

We do not have any revised figures on the revenue loss. We are currently engaged in 11 days of meetings on the technical nature of the agreement on the rate. I anticipate that, at the end of this year and early next year, a huge amount of technical work will develop within the OECD on the reallocation of taxing rights. The point at which I can offer a revision of the revenue impact will be when the detailed nature of this agreement is negotiated and made clearer. At the moment, I anticipate that it will be the second quarter of next year before we are in a position to revise the forecast we have, if at all. While some things are clearer in this agreement than they were in July, the Deputy will observe that it is still a very high-level agreement with a huge amount of fleshing out to be done. At this point in time, my officials are advising me that they do not have enough further detail to revise the forecast.

I wish to deal with a point that is implicit in the Deputy's question. He is correct that when we discussed this matter earlier in the year I was not acknowledging any revenue gain that might have come from the rate going up. I want to acknowledge that if we are going into a discussion on that point. Likewise, the area of revenue loss for us was in the pillar relating to the reallocation of taxing rights. The technical work on that is going to begin, at the earliest, later this year.