Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

I thank the Minister. Will he confirm receipt of a briefing paper from the Revenue Commissioner which, it is reported, states the proposals would result in a significant fall off in corporation and payroll tax receipts for Ireland, as well as impacting negatively on the ability of the State to attract inward investment in the future? The point is also made in the briefing document that the proposals would likely lead to greater taxing rights in larger countries. This is part of an overall attack on Ireland's corporation tax system. We already have the common consolidated corporate tax base proposals. We know that when profits are attributed based on sales and the location of assets and employees, Ireland will undoubtedly be a very significant loser if the proposals are implemented. I welcome the clarification given by the Minister. I take it from him that it is the position of the Government that the EU action should very much be aligned with that of the OECD in this respect.

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