Simon Coveney (Cork South Central, Fine Gael) | Oireachtas source

Deputy O'Sullivan approaches this from a perspective of global fairness, and I can understand that. Through the OECD, we have to reflect the changes in terms of the global economy that are taking place rapidly, especially around the digitisation of economies. This is far more rapid in some countries than others. Ultimately, we need to try to build consensus across the developed and developing world about how to have a transparent and fair tax system that allows countries to derive competitive advantage. However, they need to do that in an open and transparent way and make those choices.

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There are consequences to those choices. This is about striking a balance between allowing countries to make domestic decisions on taxation and how Government expenditure is funded while also closing tax loopholes that should not be there and that create inequality and unfairness. Ireland has bought in to the BEPS process and will continue to see that through to a successful outcome. Hopefully, consensus will be reached.

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