Oireachtas Joint and Select Committees
Wednesday, 11 June 2014
Committee on Finance, Public Expenditure and Reform: Joint Sub-Committee on Global Corporate Taxation
Reform of Global System of Corporation Tax: EU Commission and KPMG
3:00 pm
Mr. Philip Kermode:
The code group is not a traditional EU instrument. It is the member states of the Union meeting in the Council. It operates a form of peer review. Until now, when a regime has been found to be harmful, it has been rolled back or removed or those harmful aspects that were identified have been changed. It would be a difficult political situation if all other member states in the code claimed a member state's regime failed the criteria but it did not change.