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

I will explain what we are doing here. This is the final ratification procedure for amending protocols. The amending protocols seek to make the existing double taxation agreements we have with Guernsey and the Isle of Man and consistent with the relevant OECD base erosion and profit shifting, BEPS, provisions. We are putting in place the best practice to deal with some of the tax behaviour that we have acknowledged needs to change. We are bringing that best practice and those standards into protocols that already exist. This should be a deterrent or at least allow us to reduce some of the behaviours we have said are not acceptable.