Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

I have never been a member of the Oireachtas Joint Committee on Finance. I do not know if the Minister, Deputy Donohoe, was present at the EGM but I do not believe he was.

With regard to the Paradise Papers, there are 13 million documents and I do not think anyone has had a chance to read all 13 million yet so I imagine the story is still very much evolving. Tax avoidance is very much an international problem. We know that when one country closes a loophole people seeking to avoid tax move on to the next country so what is required is an international solution to what is very much an international problem. The OECD is the international body that deals with this issue. It has defined Ireland as one of 22 countries that has a clean bill of health when it comes to tax transparency. In addition, we have agreed to enter into information sharing, whereby for the first time the Revenue Commissioners will share with their counterparts in other countries how much tax companies have paid. That is an important step forward so that revenue authorities in different countries will be able to share that information.

In terms of the Revenue Commissioners, they have said they will examine the Paradise Papers. They will take further action if required, whether it is against individuals or companies, and in addition to that they have informed me that they have collected €1 billion already from targeting offshore operations.

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