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Foreign Direct Investment.

Dáil Éireann Debate, Thursday - 11 December 2008

Thursday, 11 December 2008

Questions (13, 14)

Joanna Tuffy

Question:

11 Deputy Joanna Tuffy asked the Minister for Finance if he or officials in his Department have made contact with the transition team of President-elect Obama; if discussions have taken place, or if correspondence has been exchanged, with respect to possible reforms to the US corporation tax regime and their possible implications for Ireland; if such discussions are scheduled for the coming months; and if he will make a statement on the matter. [45372/08]

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P. J. Sheehan

Question:

41 Deputy P. J. Sheehan asked the Minister for Finance the meetings that he has had to ensure that the needs of US companies based here are not adversely affected by moves to change the tax rules in the United States. [45224/08]

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Written answers (Question to Minister for Finance)

I propose to take Questions Nos. 11 and 41 together.

I understand that President-elect Obama is at present concentrating on the appointment of his Cabinet and that it will be some time before we have a firm idea of the make up of the specific policy teams in the various Government Departments. In the circumstances I think the Deputies will appreciate that it is too early to be seeking dialogue in relation to specific tax or any other issues, with an administration which has not yet taken up office.

It is the case that President-elect Obama was involved in one of two Bills introduced in the US Senate aimed at curtailing tax haven abuse. Both Bills contained a list of 34 countries that have been designated as tax havens in Internal Revenue Service court filings. However, it is important to remember that Ireland does not appear on that list. That said I am always mindful of any international developments that could potentially impact on foreign direct investment here and in that respect we will continue to closely monitor developments.

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