240. Deputy Joe Higgins asked the Minister for Finance his views on the fact that Ireland currently does not have legislation on controlled foreign companies which would allow the State to declare a tax haven subsidiary of a parent company to be resident for tax purposes in this country despite most advanced industrial countries having legislated for this; his views on the fact that this lack of legislation allows large multi-national companies to use Ireland to avoid paying tax on large profits that are booked in Ireland and instead filter them through tax havens like Bermuda and the Netherlands, and costs the Exchequer, as well as other countries, much needed tax revenue (details supplied); if he has costed the amount of money lost to the Exchequer each year due to lack of legislation in this area. [48162/12]

Summary

240. Deputy Joe Higgins asked the Minister for Finance his views on the fact that Ireland currently does not have legislation on controlled foreign companies which would allow the State to declare a tax haven subsidiary of a parent company to be resident for tax purposes in this country despite most advanced industrial countries having legislated for this; his views on the fact that this lack of legislation allows large multi-national companies to use Ireland to avoid paying tax on large profits that are booked in Ireland and instead filter them through tax havens like Bermuda and the Netherlands, and costs the Exchequer, as well as other countries, much needed tax revenue (details supplied); if he has costed the amount of money lost to the Exchequer each year due to lack of legislation in this area. [48162/12]

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• Tax Code

  xml · EN · 6 November 2012

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