Dáil debates

Tuesday, 9 November 2021

Ceisteanna Eile - Other Questions

Tax Code

9:10 pm

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

I want to pre-empt what will probably be the Minister's final comment by saying we value the jobs these companies bring to this country. They do create employment and we want those jobs here. That does not mean they cannot pay their fair share of tax. Revenue figures show the major reliefs and allowances they benefit from are intragroup transactions worth €16 billion in 2019 as a cost to the Exchequer. They are from amalgamations, losses brought forward and other reliefs like that, not research and development. I refer to the big ones. That is why they are paying themselves money, which is profit, but writing it off as a cost. It would be like me saying my ma came up with a brilliant idea and I have to pay her for that brilliant idea and then I claim that as a deduction off my income tax. Revenue would laugh me out of the room, but that is what these corporations are doing. They are writing their own tax bill. The Minister knows it, and the OECD knows it. That is why there is a reform process. What are we going to do to make sure they pay an effective rate?

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