Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I do not mean this disrespectfully, but Deputy Boyd Barrett should re-read the reply of mine to which he referred earlier. He is confusing income and profit. While the income figure was €70 million, there is an entitlement to deduct costs from it which is how the profit figure is arrived at. The computation should be on the profit which will give a different rate. According to international studies, including one involving the World Bank, the effective rate of corporate tax in Ireland is approximately 11.9%. The EU Commission has reported that our effective rate is in excess of 12.5% because certain corporations in Ireland have a tax rate of 25% where they are not trading internationally.

The problem with the so-called "double Irish" from Ireland's point of view is that it has that name. People think that something we do here gives rise to it. That is not the case. It arises from tax codes elsewhere and the way in which the USA regards certain arrangements. We do not operate any kind of tax haven. Our position is legitimate and the 12.5% rate is applied here. Deputy Mick Wallace referred to Google's tax payments in the UK. While I cannot answer for the tax liability of Google in the UK, the 12.5% rate applies to that company here. I am concerned about the misunderstanding on this issue because it gives Ireland a bad name. If the Deputies would like a detailed briefing from tax officials in my Department, they should let me know. I will put something together to provide a briefing across parties so that Deputies can ask detailed questions in a more satisfactory way than this confrontation across the House.

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