Tax Avoidance
Dail Éireann — 2020-11-26
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Richard Boyd Barrett (PBP), Dún Laoghaire

I can only say that whatever efforts the Minister claims he is making have made absolutely zero difference to the capacity of big financial corporations and other multinationals to use networks of subsidiaries in this way. They can generate profits in one subsidiary and through distributions, royalties or payments of interest on loans from other subsidiaries they magically turn a profit into a loss on the balance sheet. They can therefore tell the Revenue that they did not make any profits at all, even though these practices are reported on and celebrated by the companies in question. They boast about the tax-free profits they are making. A 12.5% share of €153 million is a lot, and we got zero. The Minister and his Government are allowing this to happen.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2020-11-26/debate/main
Retrieved: 2026-08-14T04:48:51+00:00
Sitting date: 2020-11-26