Bernard Durkan (Kildare North, Fine Gael)
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Question 201: To ask the Minister for Finance the extent to which he has become aware of taxation incentives in other eurozone states which might be deemed to influence investment in such jurisdictions; and if he will make a statement on the matter. [18983/11]

Michael Noonan (Limerick City, Fine Gael)
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It is customary for jurisdictions to continually update and amend their tax regimes to reflect changes and developments in both the structure of companies and current practices in domestic and international trade and commerce. The tax offering of any jurisdiction is critical to its attractiveness to international business and all jurisdictions compete on the tax front for foreign direct investment. Such tax competition is quite legitimate and there are mechanisms and controls in place at both EU and OECD level to ensure that such competition does not migrate into the sphere of unfair tax competition. In that respect my Department and the Office of the Revenue Commissioners keep a watching brief on all significant developments in competing jurisdictions which could feed into our own policy considerations.