Eoghan Murphy (Dublin Bay South, Fine Gael) | Oireachtas source

I hope Deputy Donnelly is not misrepresenting my reply, because I did not say that we would not be able to have any data within 18 months. What I did say, on the advice of the Revenue Commissioners, is that to get complete data may take longer than the timeframe suggested. Therefore, given those constraints and others, it would not be appropriate to put the preparation of the requested report into legislation. However, the Minister, Deputy Noonan, is in agreement with Deputy Pearse Doherty on this, and he would like to assure him that any analysis that can be done will be performed when there is an adequate amount of appropriate data available. Furthermore, there is ongoing work between officials in the Department of Finance and the Revenue Commissioners on the analysis of the section 110 regime to minimise tax avoidance opportunities. When an adequate amount of appropriate data is available, it will be shared. We share the same intention when it comes to the insertion of this amendment into the tax Acts, in so far as the operation of section 110 companies is concerned in relation to transactions which have Irish property at their base.

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