Paul Gavan (Sinn Fein) | Oireachtas source

I move recommendation No. 21:

In page 80, between lines 33 and 34, to insert the following: "Report on the cost of expenditures to companies in receipt of section 110 tax relief

57.The Minister shall, within six months of the passing of this Act, prepare and lay before both Houses of the Oireachtas a report on the annual cost of tax expenditures provided to companies in receipt of section 110 tax relief (as provided for under section 110 of the Taxes Consolidation Act 1997) and the numbers of companies availing of that relief.".

I have tried to facilitate debate, while at the same time allowing the legislation not to get bogged down this afternoon. I will speak briefly on this issue because it is important. It is fair to say Sinn Féin has real concerns about section 110 tax relief and this is with good basis. We just know that a lot of the special vehicles from a financial point of view are very adept at helping to avoid tax where it should not necessarily be avoided. Again, our request is reasonable as we are asking for a report. Something that concerns me, and unfortunately the Minister of State has been consistent on this throughout the day, is that any time I or other Senators have asked him potentially to shine a light on poor practice and tax avoidance, he has refused to agree even to have an investigation or a report. It has been consistent. What it speaks to ultimately is the ideology of his party and Fine Gael because they are firmly on the right of politics. They do not want to look, see or find out where the problems lie. Sinn Féin is saying we need to have a look at this. We need to understand what is going on. The fact the Minister of State will not even agree to a report on any of these matters tells us very clearly that from a Fianna Fáil and Fine Gael perspective they do not want to find out. They do not want that information in the public domain. It is disappointing.