The Deputy will be aware that at their 26 February meeting, the G20 Finance Ministers and Central Bank Governors re-iterated their support for finding a solution to the tax challenges raised by globalisation and the digitalisation of the economy.
I share this goal, and in this context, Ireland is engaging constructively in the discussions at the OECD/G20 Inclusive Framework on BEPS where it is hoped that a sustainable agreement can be achieved in 2021 by the 139 members of the Inclusive Framework which meets the needs of all countries large and small, developed and developing.
While there remain substantial issues to be resolved, and indeed political level discussions on the key policy issues have not yet taken place, the renewed commitment by the United States bodes well for achieving a sustainable comprehensive agreement. Without a global solution, we will see unilateral and regional measures continue to proliferate, with consequent negative impacts on trade at a time when the need for stability in such matters is essential and a return to economic growth is paramount to assist recovery post-pandemic.
Ireland has seen the benefits of international cooperation and it is my belief that working together within the multilateral framework offered by the OECD is the only way to ensure a stable international tax system into the future.
