Seanad debates

Wednesday, 1 February 2017

Knowledge Development Box (Certification of Inventions) Bill 2016: Report Stage

 

10:30 am

Photo of Pádraig Mac LochlainnPádraig Mac Lochlainn (Sinn Fein) | Oireachtas source

Yes, and I support all of these amendments. I commend Senator Higgins. One of the primary responsibilities of legislators is to scrutinise legislation and strengthen accountability. I cannot see how the Government can object to any of these amendments. Regardless of the Government's position on Apple and other things that have come before, there is serious concern in Ireland, Europe and globally about how tax incentives materialised and how accountants who work for companies or corporations influence decision making and legislation. The evidence is there internationally. It is the responsibility of us in the Houses to be sure of the intent. The intent to incentivise businesses looking at research and development to create jobs, which are very important to an economy, is good but the balance needs to be there. The legislation, as it is presented, does not have that balance. The legislation goes further than the original but the commitments are too vague. Senator Higgins has done tremendous work in trying to ensure as much as possible that the intent of the legislation and the initiative achieves its objectives and that companies are using it well.

I look forward to the Minister of State's response. I assume he will support all of these amendments.

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