Finance and Budgetary Oversight Committees meet with Members of European Parliament Sub-Committee on Taxation

Deputy John McGuinness, Cathaoirleach of the Committee on Finance, Public Expenditure and Reform and Taoiseach, said: “The engagement allowed the Committee to hear the views of the MEPs on a variety of topics and also provided members an opportunity to explain the Committee’s work on tax-related matters and give a wider context of the taxation landscape in Ireland. The Committee welcomes the views of the MEPs and will consider these topics, such as the DEBRA scheme and the Unshell Directive.

“Understandably, much of the spotlight ahead of Budget 2023 is on national developments but the Committee will remain cognisant of the Sub-Committee’s work. On behalf of the Committee, I thank the MEPs for their visit and look forward to future engagements.”

Deputy Neasa Hourigan, Cathaoirleach of the Committee on Budgetary Oversight, said: “The Committee believes parliamentary engagement, including on taxation matters, helps to build a broader understanding of the wider economic and budgetary framework. We were particularly interested in hearing the MEPs’ perspectives on the role of parliament in tackling tax fraud, tax evasion and aggressive tax planning.

“In our own work, we have heard and noted how Ireland’s corporation tax take is in excess of what should be expected based on business activity here, and how a significant amount of this revenue is vulnerable to an economic shock or prolonged recession. It was also useful to hear the MEPs views and we look forward to further discussions in the future on these and related matters.”

The Joint Committee on Finance, Public Expenditure and Reform and Taoiseach has 14 Members, nine from the Dáil and five from the Seanad.

The Committee on Budgetary Oversight is a Standing Committee of Dáil Éireann established to enhance the role of the Oireachtas in the budgetary formation process.