Joan Burton (Dublin West, Labour) | Oireachtas source

The publication yesterday by the Central Statistics Office of the survey on income and living conditions in Ireland for 2014 and 2015 shows some progress has been made in the fight against poverty and a welcome reduction in economic equality. Much remains to be done, however, and tax justice is clearly the means by which we will advance this agenda. This week, we learned that the National Asset Management Agency will pay an additional €158 million in tax on profits made by the agency from the sales of property held through section 110 companies.

Today, it is reported that Matheson has closed three charities that were used by vulture funds to avoid paying tax. I welcome that. However, a fortnight ago The Irish Times published a comprehensive investigation showing the intense lobbying before the budget by companies such as Kennedy Wilson, Oaktree Capital, Hammerson and CarVal. This investigation shows the depth and extent of lobbying activity by vulture funds of the Department of Finance to ensure that changes to our laws did not inconvenience their elaborate tax avoidance structures.

The statutory lobbying register shows a lot less activity. The lobbying returns for September-December 2016 show that only a small portion of those meetings were required to be declared and that much of the lobbying by these companies is carried out with junior officials so that it flies under the radar. It is clear that lobbying rules in regard to tax matters need to be strengthened so that all activity is captured. In at least one case letters from a vulture fund directly to the Minister for Finance, Deputy Noonan, have not been declared. In other cases, it may be that vulture funds avoided the necessity to declare their interactions by channelling their contact to more junior officials with whom contact does not have to be declared.

Tax policy is a particularly important part of public policy. Our tax must be just and fair. Continuing to allow vulture funds to influence tax policy under the radar is unfair to families and small business across the country who have no such access. Will the Government prescribe the higher executive officer, HEO, and assistant principal grades within the tax division of the Department of Finance as designated officials to ensure that lobbying on tax matters, particularly by vulture funds, can no longer be hidden in the shadows?

In the context of the €150 million paid by NAMA, how much does the Government expect to collect from other companies following the rule changes?

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