Pearse Doherty (Donegal, Sinn Fein)

This section deals with the exemption of foreign distributions. We had changes in the Finance Bill 2024 in relation to this and now there are further changes. Until now, it would be the case that under the tax and credit system, corporations would have to show they were sufficiently taxed in another jurisdiction. Now, it appears that foreign dividends will automatically assumed as exempt and that they were taxed. I do not think this is appropriate. What is the objective of this measure? Is it to make Ireland more attractive to multinationals by allowing them to reduce their corporation tax bills? Why are we moving away from the system that multinationals had to show they were taxed elsewhere to this position of assuming that they have been taxed elsewhere?