Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

That was an interesting discussion. It related to some of the points I want to touch on. The expectation was that everybody would jump together. There is a level of uncertainty on the implementation, particularly from an Irish context which is important for us in respect of the US. The UTPR safe harbour has been carved out for the US in that instance to the end of 2025. I am conscious, as the Minister has stated, that the Biden Administration is very clear that it supports pillar 2. Pillar 1 is a different issue and we are not dealing with it at this point. The Biden Administration has been supportive of a number of things that it has not been able to get through into law, however. How will this apply, particularly in respect of the guilty rate that operates in the United States? How will Irish subsidiaries that operate in the United States, some of which could be in scope of pillar 2, interact with pillar 2 and the US corporation tax regime if pillar 2 is not adopted in the United States? While the public position of the US Administration is that it is going to be adopted, we have to have that consideration as well and an opportunity for the Minister to spell it out.