Lisa Chambers (Mayo, Fianna Fail)
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I thank Mr. Coffey for his presentation to the committee.

There are 13 companies paying an effective rate of 1%. Mr. Coffey said the research and development tax credit appears to have increased activity. Is it worth it if we have 13 companies on an effective 1% rate? Even if there is some increased activity, is it worth maintaining that?

The top ten companies account for 38% of corporate tax yield. More worryingly, in the top 100, 51 are US companies which account for 80% of our corporate tax receipts. That is a concern which I share. Is the Department of Finance taking sufficient account of the risks inherent in that figure? Has the Department made any attempt to mitigate that risk? The committee will be preparing its report for the next budget and it is an issue on which we would like to touch. I would welcome Mr. Coffey's views on that.