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

Companies make decisions in respect of locating a presence in the Isle of Man. My judgment is that some of them make those decisions from a tax planning perspective. The agreement we are discussing, however, is a very limited one. It only deals with individuals and the limited business dimension I mentioned earlier. As such, companies that have a holding presence in the Isle of Man do not benefit from the agreement being put in place. It is a limited agreement relating to individuals. My officials and I will consider carefully whether the broadening of the agreement is necessary at any point. We believe it is appropriate it is a narrow agreement in the way I introduced to the committee.