Michael Noonan (Limerick City, Fine Gael)
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Agreement will be sought to agree a minimum anti-abuse provision under the directive. This will limit the benefit of the directive, which seeks to ensure there is no double taxation when companies pay dividends to their subsidiaries.

They need to be genuine business transactions. Ireland's position, which we have already stated, is that we have strong anti-avoidance rules in domestic law. We support the proposal because we do not believe it will affect us. Our policy is such that we agree with what is happening in any event. We already have the rules in domestic legislation.