Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source

I thank the Minister. I agree it is early days and we will have to see. President Trump has made statements that seem to be a negotiation stance, so we definitely need to have those engagements at a European level and a domestic level to see how this will play out. Obviously pillar 1 and pillar 2 had a net reduction in our corporation tax. The implementation of those reduced the corporation tax the State would bring in and therefore the non-application of it would have the reverse effect, but there could be other consequences.

The United States Administration has also threatened to use section 891, which allows for the executive authority to deal with discriminatory extraterritorial taxes if it believes a jurisdiction is impacting on American multinationals moreso than anywhere else. Given the dependence on American multinationals here and the number of them that will be paying the 15% tax rate compared with others, is there any concern about this measure being used against Ireland? What engagement have we had with the US Administration up to now at a domestic level, as opposed to+ a European level, which is also important?

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