Dáil Éireann Debate, Tuesday - 24 October 2017
92. Deputy Michael McGrath asked the Minister for Finance further to Parliamentary Question No. 151 of 27 June 2017, if progress has been made in discussions with Brazil on its decision in September 2016 to add Ireland to its tax blacklist; and if he will make a statement on the matter. [44827/17]
View answerEfforts are continuing to seek Ireland’s removal from the Brazilian black list. A technical delegation from the Department of Finance and Revenue met with Brazilian officials in March 2017 to seek a resolution to this issue.
Since March there has been continuing contact with the Brazilian authorities at official and diplomatic level. We continue to raise the issue with Brazil to seek Ireland's removal from the list.
Ireland has been included on this list on the basis that the 12.5% corporation tax rate is below 17%, the threshold set by Brazilian law. We believe that focusing on the statutory tax rate fails to reflect the realities of the Irish regime which focusses on substance and which also has a 25% rate for passive income and a 33% rate for capital gains. We continue to engage with the Brazilian authorities to seek a resolution to this issue.
