Noonan rejects Oxfam claim Ireland is a leading tax-avoidance nation

Finance Minister Michael Noonan has dismissed an Oxfam report which has dubbed Ireland as a leading world tax haven.

The Oxfam report put Ireland in the company of Bermuda and the Cayman Islands, after it found this country is sixth in the world for helping companies avoid taxes.

The agency found that Ireland facilitated corporate tax avoidance through profit-shifting and so-called sweetheart deals and it reported that, overall, it lacks effective tax rules.