Mr. Niall Cody:

Deputy Richard Boyd Barrett made many points, one of which had to do with tax evasion. We are talking about complex interaction on the taxation of multinationals that are probably responsible for about 80% of global trade. The Deputy asked me how tax evasion could be tackled. The only way it can be tackled is internationally in a globally co-ordinated way. That is what the OECD BEPS, base erosion and profit shifting, project is about. Let us go back to 2012. The original process for double taxation agreements was very much about ensuring there would be no double taxation on international transactions. All through the 1990s and 2000s that was the process in place. In 2010 and 2011 - it was highlighted around 2012 - there was an increased recognition that some of the strategy used by multinational enterprise led to double non-taxation. This culminated in the US Senate hearings. We have spoken before about this issue. The G20, the G7 and the OECD BEPS project became part of the process in tackling that issue. The various 15 groups and numerous actions are part of tackling it. It is not something the Revenue Commissioners can close down across the board. Ours is a small administration, but we have been very active participants in the work being done at OECD level to tackle the tax issue. As tax officials, we do not-----