Written answers
Thursday, 13 October 2016
Department of Finance
Corporation Tax Regime
Michael McGrath (Cork South Central, Fianna Fail)
Link to this: Individually | In context | Oireachtas source
35. To ask the Minister for Finance further to Parliamentary Question No. 179 of 27 September 2016, the status of discussions with the Brazilian authorities in relation to their decision to designate Ireland as a tax haven; his views on the implications of the decision for Irish businesses; and if he will make a statement on the matter. [30151/16]
Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source
Brazil's inclusion of Ireland on their tax list has been in operation since 1 October. The impact of the listing involves increased Brazilian withholding taxes being charged on certain payments made from Brazil to Ireland. This may have implications for Irish businesses trading with Brazil or that have operations or investments in Brazil.
Significant efforts to seek Ireland's removal from this list have been undertaken by my Department and the Department for Foreign Affairs and Trade. Ireland's ambassador to Brazil is leading our engagement with the Brazilian Federal Revenue Service to seek Ireland's removal from this list as soon as possible. A formal request for the listing to be suspended has been filed with the Brazilian Federal Revenue Service and we are awaiting a reply to this request. My officials are in close contact with the Ambassador and are supporting these efforts.
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.
No comments