Noonan: Apple tax claims 'clearly wrong and misleading'

The Finance Minister has said claims that Apple only paid corporation tax of 0.05% on profits here are 'clearly wrong and misleading'.

Michael Noonan has told the Dáil that multi-nationals are paying 12.5% on their operations here and Ireland is not a tax haven.

He said that lower figures being quoted are because the figures are being manipulated.

"Having examining the document produced by the US Senate sub committee it appears that the rate that is being quoted is got as follows

"The tax charged in Ireland on the branch activities in Ireland of companies that are not resident here on they one hand is divided by the entire profit of the companies concerned as if they are resident here which they are not," he said.

"On the other hand it is clearly wrong and mislead to attribute this type of tax to Ireland."