Oireachtas Joint and Select Committees

Wednesday, 16 May 2018

Committee on Budgetary Oversight

Corporation Tax Regime: Discussion

2:00 pm

Mr. Seamus Coffey:

We have paid. If a company gets money back in Ireland, it is paid in another country. There are issues related to the timeline of the process. It is hard to see the potential cost and Revenue appears reluctant to put potential costs on claims. They could be substantial and significant, but until such time as claims are concluded, which could be four, five, six, seven years down the line, we cannot be sure of the likely outcome. However, there is potential for them to be quite significant. It is worth keeping an eye on the matter. Some of the replies to parliamentary questions have provided an valuable insight into what has happened in the past. There is no doubt that there is potential for there to be a risk in the future. Unless Revenue outlines what is happening or could happen, we are unlikely to get much of an insight into the matter.