Oxfam report on ‘tax haven’ Ireland slated by Michael Noonan

A report issued by Oxfam that claimed Ireland was a tax haven, has been criticised by Minister for Finance Michael Noonan

He said no reputational damage had been done because their remarks are “so wide from what the actual factual position is. Nobody will take them seriously.”

The report labelled Ireland one of the worst tax havens in the world, on a par with countries like Bermuda and the Cayman Islands when it comes to helping big business dodge billions of euro in tax annually.

In a damning analysis by development agency Oxfam, Ireland was placed sixth in a list of 15 countries that facilitated extensive corporate tax avoidance through profit-shifting, aggressive tax planning structures and so-called sweetheart deals.

Housing crisis

Meanwhile, Mr Noonan confirmed the rental strategy has been agreed and will be announced on Tuesday.

Speaking ahead of a book launch, he refused to comment on what was contained in the measures.

However he confirmed his department, the Department of Public Expenditure and Department of Housing had reached an agreement on the contents.

It had been reported that the two finance departments were concerned at some of the measures contained within.

"The paper on rent, which Simon Coveney will be announcing this week, is going to Cabinet on Tuesday and has been agreed both by me and Minister (Paschal) Donohoe," said Mr Noonan.

Mr Noonan and Minister for Public Expenditure Paschal Donohoe’s reluctance to interfere in the housing market has been reported previously.