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

I propose to take Questions Nos. 8, 209, 211 and 227 together.

The 140 members of the OECD's inclusive framework on base erosion and profit shifting, BEPS, continue to work on a two-pillar proposal towards finding a consensus solution to address the tax challenges of digitalisation and globalisation of the economy. Many of the key policy decisions of the two-pillar proposal, including the rate of the proposed minimum effective tax rate, remain undecided.

I have been very clear on my position. I am broadly supportive of the agreement but have a very significant and serious reservation, in particular in respect to a commitment to a rate of "at least 15%" for a global minimum effective tax rate. While I remain very committed to and supportive of the process, that is the reason Ireland is not currently in the consensus. Given the economic importance of the OECD proposals to Ireland, I held a public consultation on the proposals which ran until 10 September. These submissions are now under consideration by my Department. There is a desire for Ireland to be part of the international agreement but, at this stage, there is a lack of clarity on what is in the agreement. The process must bring about certainty and there are too many significant unknowns for now.

Ireland has long been an attractive place for foreign direct investment and has become home to many of the world's largest multinational enterprises. Aside from the headline rate of taxation, there are a significant number of advantages Ireland has to ensure it will continue to be an attractive location for foreign direct investment. As we move forward, I remain committed to engaging in the OECD process but I believe that, in any of the scenarios or horizons Ireland will confront, we will continue to be in a position where we can be competitive and continue to be in a position in which work can be created and jobs created and kept in our country.

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