Paul Murphy
Ceist:68. Deputy Paul Murphy asked the Minister for Finance his reasoning for his reported opposition to country to country reporting proposals; and if he will make a statement on the matter. [10027/17]
Amharc ar fhreagraTuesday, 28 February 2017
Ceisteanna (68)
Freagraí scríofa
In Finance Act 2015, Ireland introduced Country by Country reporting in line with the OECD Base Erosion and Profit Shifting (BEPS) Action 13 recommendation. I also agreed a Directive with my fellow European Finance Ministers last year which required all EU Member States to introduce similar rules. The first reports will be filed with the Revenue Commissioners by the end of this year and these reports will be exchanged with other tax authorities around the world through EU and OECD mechanisms.
A Commission proposal for an EU Directive on public country by country reporting which involves changes to the Accounting Directive is currently being debated by Member States. It is therefore being dealt with by my colleague, the Minister for Jobs, Enterprise and Innovation.
Speaking at a recent Conference, I noted that the Commission proposal goes against the consensus reached in the OECD BEPS process that the real value of country by country reports is to enable tax authorities to see what is really happening and to carry out more informed audits and assessments. I also noted, that it is important that a consistent global approach is taken on this issue.