Ireland remains in regular communication with the Brazilian Federal Revenue Service on the inclusion of Ireland on their tax blacklist. Contact is ongoing and as I previously advised a technical delegation will be travelling to Brazil to discuss the issue with Brazilian officials. It should be noted that Brazil have not designated Ireland a tax haven. The Brazilian Federal Revenue Service have advised that they have included Ireland on a tax list of countries with favourable tax regimes because our 12.5% corporation tax rate is below 17%, a level set by Brazilian legislation. I disagree with the inclusion of Ireland on this list. The 12.5% rate is a long established and important part of our overall tax system. Focussing on the 12.5% rate ignores the existence of the 25% and 33% corporation tax rates. It also creates a misleading impression that Ireland is a low corporate tax collecting country which is inaccurate. We will continue to communicate with the Brazilian Federal Revenue Service and seek to provide clarity on our corporation tax regime.