Paschal Donohoe (Dublin Central, Fine Gael)

The short answer to the Deputy’s question is that this agreement does have consequences for the OECD agreement overall. There are three in particular. The first is what this means for competitiveness of economies and countries that remain fully inside pillar two. The second is how other economies and important stakeholders in the OECD agreement will respond, given the actions that have been taken by the US, and the third issue is how a side-by-side framework will be implemented technically given that so many of these companies, which are large investors and employers in Ireland, need certainty regarding how tax law is executed. Those are three important issues we have to carefully consider. I hope given the G20 discussions that are under way this week and what will happen in the OECD, I will be at a point of being able to give a fuller answer to those questions over time.

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