Oireachtas Joint and Select Committees
Wednesday, 22 May 2013
Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance
Estimates for Public Services 2013
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised)
6:00 pm
Michael Noonan (Limerick City, Fine Gael)
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It is not semantics. They are not liable for Irish tax. We did not control that. Our law applies to tax-resident companies at a rate of 12.5%. If one divides Apple's world-wide profits, the amounts of tax paid legitimately on its profits in Ireland is 2%, but we cannot tax its world-wide profits; we can only tax the profits which are in Ireland, which are tax-resident in Ireland. That is where the 2% comes from. That is why I say the Deputy does not understand it.