Oxfam: Royalties sent out of Ireland equivalent of 26% of country's GDP

The charity Oxfam says Ireland would be blacklisted as a tax haven - if EU rules were applied to member states.

The EU is currently compiling a list of states that help companies and individuals avoid tax.

Oxfam says Ireland, Luxembourg, the Netherlands and Malta would be on the list, if member states were examined.

The charity says we have a poor record in the areas of fair taxation and facilitating tax avoidance.

Oxfam's Michael McCarthy Flynn says Ireland channels an unusually large amount of royalties out of the country.

"Royalties sent out of Ireland were the equivalent of 26% of Ireland's GDP," he said.

"This is way above what you would expect in relation to normal economic activity.

"In fact, Ireland's royalties going out of the country is more than all the royalties of the rest of the EU."

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