Mr. Niall Cody:

JITSIC is an OECD-based project of co-operation between tax authorities that was established at the meeting of the Forum on Tax Administration, FTA, in Dublin in 2014. We are one of its members. JITSIC has a dedicated project surrounding the Panama papers and we are involved in that.

The major issue is that, after the Panama papers were released, the Minister wrote to me and asked whether I believed that we needed new powers in the context of what had been exposed. Deputy Pearse Doherty also wrote to me about the issue. We submitted a proposal for the Finance Bill concerning offshore tax evasion.