Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

The Minister knows Sinn Féin supports the OECD base erosion and profit shifting, BEPS, process. The announcement by the G7 of its intention to establish a global minimum effective corporation tax rate of 15% was the view of that group regarding where pillar 2 of that process should land, but there are other views. Pillar 2 in any global minimum effective corporate tax rate will not be decided by the G7 alone, but will be subject to the agreement of 139 countries and jurisdictions under the OECD inclusive framework, including Ireland. It is clear that this process has momentum and that the members of the G7 and the broader OECD are already seeking carve-outs and exemptions for strategic industries and economies under pillars 1 and 2. It is also clear that they will doggedly pursue their own national interests in that process, as is the right of those countries.

We must pursue an outcome that is fair and that works for all countries and jurisdictions party to the process, including Ireland. It is our view in Sinn Féin that any agreement reached at the OECD should accommodate an effective corporation tax rate of 12.5%. What strategy is the Minister going to adopt ahead of the G20 and OECD talks? Does he believe that there is any support internationally for this approach?

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