Dáil Éireann Debate, Tuesday - 10 July 2018
182. Deputy Maureen O'Sullivan asked the Minister for Finance his plans to address Ireland's poor international reputation regarding profit shifting by corporate tax incentives; and if he will make a statement on the matter. [30984/18]
Amharc ar fhreagraIreland has a competitive corporation tax rate, an attractive and stable tax regime and a strong commitment to transparency. Ireland’s tax regime is designed to encourage the location of real, substantive and high-value adding investment in this country. We have a competitive tax regime that is fully in line with international standards for fair tax competition as agreed at the EU and the OECD.
The best way for Ireland to address any reputational issues on tax is to continue to support international tax reform efforts and to continue to implement the various recommendations that we have agreed at EU and OECD level.
I recognise the importance of ensuring effective taxation of multinational companies and the need for internationally agreed solutions to counter aggressive tax planning, base erosion and profit shifting. Ireland has fully engaged with international efforts to counter aggressive tax planning to date, through both the OECD’s Base Erosion and Profit Shifting and the subsequent coordinated action at EU level leading to the agreement of the two Anti-Tax Avoidance Directives.
We continue to play our part in this ongoing work. It is widely acknowledged that difficulties in the international tax system mainly arise from asymmetries between the taxation systems of different countries. Only by acting together can we ensure that companies are taxed appropriately.
I should also add that my officials are currently finalising a roadmap setting out a clear programme of action in relation to Ireland’s Corporation Tax regime for the coming years having regard to developments at EU, OECD and the wider international level. This Roadmap follows on from the independent review of Ireland’s Corporation Tax Code conducted by Mr. Seamus Coffey, and will set out a comprehensive schedule of actions under way to action the Coffey recommendations, implement the remaining OECD BEPS recommendations and transpose the EU Anti-Tax Avoidance Directives. This Roadmap will be published in the coming weeks.
