Paschal Donohoe (Dublin Central, Fine Gael)
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I was referring to America. I believe we will see American corporate tax receipts begin to increase and there are three reasons that this will happen. First, as members will have seen, the American political system has taken the decision to put in place a fiscal stimulus for its economy that is at or approaching full employment. Second, America has made a decision on the minimum global effective tax rates that American companies need to pay. Third, America has put in place very specific mechanisms to incentivise American companies to move back to America their cash reserves of earnings which have not been repatriated. I believe it is very likely, as a result of this, that we will see an increase in American corporate tax collection. As a consequence, we will see more companies pay more corporate tax.