Gerry Horkan (Fianna Fail)
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Exactly. Ms O'Brien makes a point about profits from trade outside the EU which are currently taxed in Ireland, which has nothing to do with the EU. I appreciate that most people do not know much about CCCTB but it is regarded as an EU project involving internal EU trade. However, it means that transfer pricing will still apply to non-EU markets but also that other countries will now be able to take a share of the profits of sales of countries based in Ireland selling to non-EU countries. Is that correct? Ms O'Brien said:

Profits from trade outside the EU that are currently taxed in Ireland would also be reallocated to other member states based on an EU-wide assets and labour formula. In order to stimulate growth and diversify risk, particularly in light of Brexit developments, businesses are trying to develop more non-EU markets.

Is it correct that other countries will benefit from our trade with non-EU countries?