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

The Deputy is quite correct that there is a difference between tax evasion and tax avoidance. Tax evasion is a crime and tax avoidance has a wide spectrum ranging from tax incentives set up by the Government, which we encourage people and businesses to avail of, to the other extreme which is people using aggressive tax planning to exploit loopholes in the law - loopholes which the Government is closing.

Examples include getting rid of the double Irish, eliminating stateless corporations and, in the Finance Bill now going through these Houses, changes in the way that we tax international property.

I note Allied Irish Banks issued a statement yesterday indicating that it was decided to wind down the relevant companies in 2012. This Government was not in office in 2012. The party I lead only came to office in 2011, so within a year of us coming to office, AIB decided to wind down those companies. AIB also confirmed that the relevant entity ceased operations by 31 December 2013. I note from the statement that at all times the bank claims it complied fully within the law in any jurisdiction in which it operated.

Ultimately, of course, tax matters are matters for the Revenue Commissioners. I have total confidence that any issues of concern will be investigated by the Revenue Commissioners, as appropriate. I call on the International Consortium of Investigative Journalists to share any information with the Revenue so that we can take action.

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