I should take this opportunity to highlight the significant contribution that multinational companies make to the Irish economy, both in terms of generating employment and contributing tax revenue. According to an Autumn 2012 Report from IDA Ireland, 146,000 people are directly employed by multinationals in Ireland, and the total of direct and indirect jobs attributable to multinationals is around 250,000.
The corporation tax responsibilities of multinationals in Ireland are clear: all companies in Ireland pay the 12.5% rate on their trading profits which are generated in Ireland.
I am, however, aware of recent media reports which refer to the ways that some companies structure their international tax affairs to minimise their global tax costs. The ability of entities to lower their global rate of tax using international structures reflects the global context in which Ireland and indeed all countries operate. Ireland is fully supportive of international efforts to ensure fairness in taxation. Ireland participates fully in the EU Code of Conduct Group, which addresses harmful tax competition, and in the OECD Forum on Harmful Tax Practices.
In relation to the specific question raised by the Deputy, I would emphasise that it is for the Public Accounts Committee to organise their own schedule of work.
