Michael McGrath (Cork South Central, Fianna Fail)
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On the calculation of the base, we heard last week from the Department of Finance that the Irish rate applies to a much wider base than that provided for under the methodology set out in these proposals. The Department gave several examples - the Irish Tax Institute referred to some of them too – such as the deductibility of business expenses, broad exemptions for foreign income and the anti-avoidance rules are less specific in the Commission's proposals than they currently are in Ireland. Would we be looking at a considerably narrower base, as opposed to what we have under our Taxes Consolidation Act?