Oireachtas Joint and Select Committees
Thursday, 3 December 2015
Public Accounts Committee
2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
10:00 am
Mr. John McCarthy:
We tax the substantive economic activity here and the firms the Deputy has mentioned have substantive operations here. However, if the headquarters are relocated to somewhere in Ireland then the global profit flow of some of these firms is re-domiciled although they have already paid their corporation tax on the substantive economic activity in a jurisdiction that has a higher rate. Given that we have a double taxation agreement we do not get any-----