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

I have the figures here in front of me as well. I am sure I got them from the same place Deputy Boyd Barrett did. He is correct, in the sense that credits and deductions are used, but that is not the same as tax avoidance. That is where we differ. Credit, for example, with regard to recognised research and development is not tax avoidance, it is a legitimate way of the tax code recognising that something is happening inside a country that is valuable and that can create employment and investment. It is a common feature of business and corporate tax policy all over the world. The figures – I am sure they are from the same website and publication as Deputy Boyd Barrett has - are very clear. All companies had an effective tax rate of 10.3%; foreign-owned multinationals had an effective tax rate of 11.1% and US-owned multinationals had an effective tax rate of 11.5%.

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