Mr. Philip Kermode:

I think I understand the Deputy's perspective. I understand he is still talking about the investigations by our competition authorities. I cannot give an end date for its work and it is only something it can conclude control. It is entirely within its responsibility but I know it considers it to be an important issue.

I do not think the rates issue bears any relation to this. The subject identified is a very specific and individual case relating to transfer pricing and there is not a question hanging over the application of the rate in this case, as I understand it, nor is there a question mark over the overall corporation tax regime in Ireland. It is a very specific case as to whether state aid has been given to this company. That is how state aid competition rules are applied. It is separate to the discussion on the BEPS about changing the international architecture.