Dáil Éireann Debate, Thursday - 21 March 2013
39. Deputy Michael Colreavy asked the Minister for Finance the contact he has had with the OECD in the course of its base erosion and profit shifting, BEPS, project; and the steps he is planning to take next to co-operate with the OECD as it continues to examine aggressive tax planning. [14075/13]
Amharc ar fhreagraA particular focus of concern in international tax policy in recent times has been on the apparent low effective rates of tax paid by some multinational corporations as a result of transnational structures. The OECD is in the process of drawing up plans to make the issue of Base Erosion and Profit Shifting (BEPS) the central concern of its upcoming work in the area of tax. This approach has been endorsed by the G20. A draft of the OECD BEPS report was discussed at a recent meeting of the OECD Committee on Fiscal Affairs in Paris in January at which officials from the Department of Finance and the Revenue Commissioners were in attendance. The OECD will now prepare an action plan by June this year to examine next steps.
Ireland welcomes the report of the OECD on this very important topic, and also the coordinated effort at OECD level to deal with the challenges BEPS poses. The report provides a very good overview of the root causes of BEPS, and highlights the key pressure areas to be considered in formulating a comprehensive action plan by June. Ireland, along with all other OECD members, is actively involved in focus groups established with the aim of developing the action plan.
