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Foreign Direct Investment

Dáil Éireann Debate, Tuesday - 28 May 2013

Tuesday, 28 May 2013

Questions (333, 334, 337, 338, 340)

Peadar Tóibín

Question:

333. Deputy Peadar Tóibín asked the Minister for Jobs, Enterprise and Innovation if a representative of his Department or the Industrial Development Agency have advised or provided information on the establishment or benefits of non-residential holding companies to perspective foreign direct investment companies; and if he will detail any such advice or information. [25938/13]

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Peadar Tóibín

Question:

334. Deputy Peadar Tóibín asked the Minister for Jobs, Enterprise and Innovation the advice given to foreign direct investment companies regarding the establishment of non-trading non-residential holding companies. [25939/13]

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Peadar Tóibín

Question:

337. Deputy Peadar Tóibín asked the Minister for Jobs, Enterprise and Innovation the number of Industrial Development Agency client companies that are whole or part subsidiaries of Irish registered non-residential holding companies. [25942/13]

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Peadar Tóibín

Question:

338. Deputy Peadar Tóibín asked the Minister for Jobs, Enterprise and Innovation the number of Industrial Development Agency client companies that are Irish registered non-residential holding companies. [25943/13]

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Peadar Tóibín

Question:

340. Deputy Peadar Tóibín asked the Minister for Jobs, Enterprise and Innovation the number of inquires from Industrial Development Agency client companies with regard to tax reduction; and to outline how these enquiries are handled. [25945/13]

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Written answers

I propose to take Questions Nos. 333, 334, 337, 338 and 340 together.

IDA Ireland is the agency with statutory responsibility for the attraction of foreign direct investment (FDI) to Ireland and its regions. In executing its mandate, IDA Ireland engages with corporate entities, as the primary decision makers around FDI investment. The Agency’s key focus is on maximising the level of economic activity and substance in Ireland from these corporations.

IDA Ireland markets Ireland as a location for FDI on the basis of a number of selling points: a pro-business and technologically advanced environment; the availability of an educated and talented workforce with the blend of appropriate skill sets; a range of affordable, state-of-the-art property solutions; the availability of world class access infrastructure, for example, road access to key cities and ports and international airports; and an attractive corporate tax rate. IDA Ireland is a marketing organisation not a tax advisory body. In the course of its engagement with client companies, IDA Ireland provides general information to companies on the Irish tax regime while companies and their financial advisors engage separately and directly with the Revenue Commissioners, as required.

I wish to reiterate that Ireland is not a tax haven. Since the 1950s, there has been a consistent Government policy to use a competitive corporation tax rate as a means to attract investment and jobs to Ireland. A deliberate decision has been taken by successive Governments to ensure that our tax system is transparent and our competitive rate is applied to a wider tax base. I understand from my colleague the Minister for Finance that he has been advised by the Revenue Commissioners that the number of companies and the names of same that are incorporated here but non-resident for tax purposes are not available as they are not separately compiled.

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