Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

The question from the Deputy highlighted how challenging this environment will be. In last year's budget and much of the work that led up to it, I made the point that our corporate tax revenues, which have increased in recent years, will fall. The reason for that fall is highlighted in the question asked by the Deputy. If agreement is not reached, the risks related to double taxation will pose a direct challenge to the revenue we currently collect. If agreement is reached, it is very likely that there will also be challenges and risks to the revenue we are currently collecting. There will be effects on the tax we collect in the future, and on corporate tax revenue in particular, if agreement is reached or if it is not reached. I believe the OECD is the best place to try to get agreement for the key reason that if agreement is reached inside the OECD, at least it minimises the risk of a tax issue flowing into trade difficulty. Trade difficulty in this area would be an even bigger challenge for Ireland.

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