Maureen O'Sullivan (Dublin Central, Independent) | Oireachtas source

The Tánaiste mentioned Ireland and all countries but it must be acknowledged that all countries have not had a fair deal to date. The base erosion and profit-shifting, BEPS, initiative has had some significant benefits, but it does not go far enough. Multinationals continue to benefit from transfer pricing. The double tax agreements favour residence-based over source-based arrangements. This results in capital flows from the developing countries to the developed countries instead of the other way around. It was disappointing to learn that the concerns of officials in the Tánaiste's Department were ignored when it came to the Ghana agreement. Prior to that agreement, Ghana could levy 15% on royalty payments and 20% on technical fees but the following the agreement, the figures were 8% on royalties and 10% on technical fees. Irish companies, therefore, investing in Ghana and other countries will benefit from lower rates of tax. That has to be at odds with our national plan on business and human rights. I reiterate that we are so respected in one area that we have to be also respected for supporting fair corporate tax reform in order that those in the developing world can raise the income they need. At the end of the day, we need an approach that would eventually mean a reduction in overseas aid if they can raise the money they need for services.

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