Oireachtas Joint and Select Committees

Wednesday, 14 July 2021

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach

Double Taxation Agreements: Minister for Finance

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)
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I agree in general on the point that we are members of the European Union. Mind you, we do not always get the same benefits in terms of various issues as some of our colleagues across the European Union. That is why I raised the issue in the first place.

In the 1980s the construction sector had what was called a certificate of reasonable value. That was dreaded by those in the construction industry on the basis that it was a big hold-up in the construction of houses. It was not actually as the houses were constructed but it prevented interventions. For instance, investment funds could not intervene unreasonably and impose an extra cost on the houses being built for consumers and the people. I would like that to be borne in mind. No one wanted it but it had an effect. The fact is it has not been introduced since. There was no need for it to be introduced as we were able to produce houses to meet the needs of people.

There is a double taxation agreement affecting Germany and other countries. Does it affect Ireland's competitive position vis-à-viscountries within the European Union and outside?