Ms Cora O'Brien:

My strong view is that we have a very good set of proposals here on the BEPS agenda to deal with tax avoidance. To reassure the committee, some of the measures to deal with these concerns, even about permanent establishments and the ability to avoid paying tax in countries because one does not have establishments there, are being tightened under the BEPS proposals. It would be in everybody's interests if we consistently, properly and carefully implemented them in such a way that the rules were the same for everybody. We have the tools, and many countries and companies argued about and debated this. We need to let BEPS play out. It is only starting to be implemented now. It is only due for its first review in 2020, and many of the measures are specifically targeted at some of the concerns that have been raised. Much work is being done on this. The EU itself, in fairness, is being very careful in implementing many of these anti-avoidance measures. We will have a big consultation next year on the anti-tax avoidance directive in this country and how we will implement these tax avoidance measures in Ireland. To start trying to do other things on another track could be counterproductive to that.