David Cullinane (Waterford, Sinn Fein)
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173. To ask the Minister for Finance if his attention has been drawn to reports that Brazil recently added Ireland to its list of tax havens; the implications for Ireland in terms of financial transactions with Brazil if this is indeed the case; if there are any reputational implications for Ireland in view of any such decision by the Brazilian authorities; and if he will make a statement on the matter. [26751/16]

Michael Noonan (Limerick City, Fine Gael)
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I was surprised and disappointed to learn that the Brazilian Federal Revenue Service have added Ireland to Brazil's tax black list.   I understand that the operation of the listing was initial backdated to 1 August but now has been suspended until 1 October.  If Ireland remains on the list, I understand that there would be some Brazilian tax implications on payments flowing from Brazil to Ireland.

We have not been provided with detailed reasons from the Brazilian Federal Revenue Service as to why Ireland was added to the list.  Our Ambassador in Brazil is engaging with the Brazilian Revenue Service to seek Ireland's permanent removal from this list as soon as possible.

Ireland strongly rejects any allegations that we are a tax haven.   Ireland does not meet any of the international standards for being considered a tax haven.  Ireland is fully compliant with all international best practices in the areas of tax transparency and exchange of information.  Ireland's corporate tax policies are designed to attract real and substantive operations to Ireland.  Ireland has not been and will never will be a brass-plate location.  We only have and want real substantive FDI, the kind that brings real jobs and investment into Ireland.

Ireland is an active participant in global work to reform the international corporate tax system.  We have implemented Country by Country Reporting, agreed the Anti-Tax Avoidance Directive and are working towards the implementation of the remaining OECD BEPS recommendations both domestically and internationally.