Michael D'Arcy (Fine Gael) | Oireachtas source

I want to raise the issue of the OECD report, that is, the base erosion and profit shifting, BEPS, report, that was published this morning. It is important we understand that it is part of a process that will not conclude until this time next year, and why should we move at an early stage until we know exactly where we are moving? The important point to remember about the taxation issues for some multinationals which trade in this way is that the issues are international tax issues. They are not merely an Irish tax issue. The so-called double Irish is an American tax code issue rather than an Irish tax code difficulty. It is really important that we have a full and open debate and people know and understand what is being discussed in relation to profit shifting rather than that on every occasion this matter comes up, the Irish taxation code is raised as a difficulty. It is not a difficulty. Everything that is done is correct and above board, but, unfortunately, we seem to be the poster boy at every level everywhere in this regard. It would be helpful if we could have a debate with the Minister for Finance on this matter in order that we can inform the Irish public of what is happening and what is due to happen this time next year. I also put on the record that whatever the Government is prepared to do to ensure that we are part of the solution, we should do it with every other country in the world, not on our own. We should not act unilaterally, especially when we do not know what will come this time next year.