Mr. Niall Cody:

The general commentary is that some very large multinational corporations have worldwide profits and turnovers of billions, and when we compare what they pay in Ireland to their international turnover it looks like a small figure, but the products they sell are not all developed in Ireland. The research and the intellectual property are not owned here. It can look like a small figure in respect of their global worldwide turnover but we have no entitlement to tax them on their global worldwide turnover or profits.