Dáil Éireann Debate, Thursday - 19 April 2018
120. Deputy Noel Rock asked the Minister for Finance the status of discussions with the Brazilian authorities to remove Ireland from a blacklist of tax havens; and if he will make a statement on the matter. [17246/18]
Amharc ar fhreagraThe Irish Government was deeply disappointed by Brazilian Federal Revenue Service's decision to include Ireland on the List of Countries with Favoured Taxation and Tax Regimes. Inclusion on the list fundamentally misrepresents Ireland and the Irish tax system.
Ireland's interaction with Brazil on this important issue is being led by the Irish Ambassador to Brazil. Department of Finance officials and officials from the Revenue Commissioners continue to be actively engage in supporting the Irish Ambassador to Brazil in our efforts to seek Ireland's removal from the List. Officials from the Department of Finance have met with their Brazilian counterparts to address any concerns the Brazilian authorities have.
In addition, Minister of State Joe McHugh TD travelled to Brazil as part of the “Promote Ireland” Programme for St Patrick’s Day. Minister McHugh engaged directly with the Head of the Brazilian Revenue Service in a meeting specific to this matter.
Arising from the meeting the fundamental issue remains that Ireland’s 12.5% headline rate was at odds with existing Brazilian tax legislation (which sets a 17% threshold) which means that Ireland will remain on the list, regardless that Ireland is fully compliant with all international best practices in the areas of tax transparency and exchange of information and are one of only 22 jurisdictions to be ranked as fully Compliant by the Global Forum on Transparency and Exchange of Information for Tax Purposes. Furthermore, research by the OECD and others point to the importance of low corporation tax rates to encourage economic growth.
