Fianna Fáil Finance Spokesperson, Michael McGrath TD has today called on the Minister for Finance, Michael Noonan TD to be absolutely unequivocal in vetoing any transfer of tax sovereignty to the European Union.

McGrath was commenting following reports in the media that EU Finance Ministers would discuss a briefing document from the Slovakian Government, who hold the rotating Presidency of the Union, which included proposals for cross-border harmonisation of tax.

“The EU Treaties are quite clear. Tax is not a competence of the EU, and Ireland must oppose any attempt to change this,” said McGrath.

“Fianna Fáil has been consistent on this matter. We will not support any encroachment by the EU into the area of tax setting by member states. “

“When an issue is best resolved at an EU-wide level, we believe it should happen at an EU level. However, tax is a core component of a country’s sovereignty, and is particular to the local circumstance of a country.”

“Dáil Éíreann, and its members, must retain exclusive control over the setting of taxation policy and rates in Ireland,” concluded McGrath.