Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

That figure was first calculated in 2020. It has not been updated because Pillar 1 is not yet finalised so it is not possible to finalise the figure. The impact of Pillar 2 will not stand alone. It is part of a global agreement that involves the two pillars interacting.

This is why the Department has always taken the approach of estimating the combined effect of the two pillars being in operation. As the Minister, that is the information I have. That is the assessment that was carried out by Revenue and the Department.