Seanad debates

Wednesday, 11 December 2013

Finance (No. 2) Bill 2013: Second Stage

 

2:25 pm

Photo of Michael D'ArcyMichael D'Arcy (Fine Gael) | Oireachtas source

Something else I am very pleased happened is the scrutiny of the stateless corporations. I want the corporations in this country to pay their fair share. I do not want middle Ireland to pay it all. We were criticised in US Senate hearings. There was a debate on whether or not it was fair. I do not know, but we suffered significant reputational damage because of that. We cannot resolve internationally the practice of very efficient tax lawyers and accountants doing the job they do very well. Some of the best in the world are based here. However, we can be part of the resolution of this because it must be resolved. I saw the small amount of tax Amazon paid in the UK with the number of employees and turnover it has. I am just using Amazon as an example. It is probably no better or worse than a number of other international companies.

I was very disappointed with the below-cost selling by the multiples, in particular the supermarkets. I pushed very hard with the Minister in this area. It was the current Fianna Fáil leader, Deputy Martin, who removed the below-cost selling orders from the multiples.

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