Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

The massive extent of losses being carried forward by banks and other big enterprises to write down their taxable income and consequently reduce their tax liability is an unbelievable scandal.

There are many other mechanisms and loopholes through which the corporate sector can write down its tax liability. The scale of it is truly staggering and points again and again to the need to impose, as a minimum, the 12.5% tax rate on gross profits and which we have urged the Minister for Finance to do for the past five years. I note that Deputy Joan Burton and the Labour Party have recently converted to this view.

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