Joan Burton (Dublin West, Labour) | Oireachtas source

As the Minister knows, and he has been quite concerned about it, Ireland's reputation on tax is a very tricky issue, particularly in the context of Brexit. There has been a demonstrable attack on Ireland by various figures from the Commission, and other countries in the EU 27 have made comments on Ireland's tax position. I thank the Minister for the detail in his answer, but it is extraordinary that banking companies which broadly utilise the IFSC for investment banking purposes in a regime where corporation tax is a very attractive 12.5% would be able to achieve a tax rate of between 2% and 6%. This is not good news in terms of what this country has said in respect of our very genuine participation in the OECD BEPS process.

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