Of the wider tax environment, O'Rourke thinks the OECD base-erosion and profit-shifting (BEPS) process is "very good" for Ireland.
[7][8] During two years, the package was developed by participating members on an equal footing, as well as widespread consultations with jurisdictions and stakeholders, including business, academics and civil society.
The BEPS project looks to develop multilateral dialogue and could be achieved thanks to a successful international cooperation, unavoidable when it comes to such a domestic and sovereign topic.
In developing countries, where there is heavy reliance on corporate taxes, revenues are trimmed, leaving states underfunded and underinvested.
The project's Action Plan states that a failure to address BEPS would spawn "the emergence of competing sets of international standards, and the replacement of the current consensus-based framework by unilateral measures, which could lead to global tax chaos marked by the massive re-emergence of double taxation.
The package consists of 15 action plans that provide tax standards in exchange for a membership fee (discounted for developing countries).
The largest firms are often U.S. multinationals avoiding the high (35%) worldwide corporate tax rate in the United States.
In contrast, the OECD has spent decades developing intellectual property as a legal and a GAAP accounting concept.