Discussions on the Irish tax system for multinational corporations will be up for debate today. TDs and Senators will resume hearings during the Oireachtas Tax Sub-Committee to discuss the countries relationship with firms and the subjects of 'base erosion' and 'profit-shifting'.

Ireland is being investigated by the European Commission which wants to see documents of deals done with companies like Apple and Google.

Last week the Tánaiste Eamon Gilmore said our corporate tax rate is not up for discussion and he is not worried by the EC investigation.

The Financial Times has said that if the Commission finds cause for concern, it will open a formal investigation and start a process that could force the states to recoup all the lost revenues from any unlawful deals. It has also quoted a Commission spokesperson as saying "At the moment, we are simply gathering information on tax rulings".

Back in July, the Organisation for Economic Co-operation and Development (OECD) insisted that Ireland is not a tax haven.

The Irish corporate tax regime has come under criticism from the United States which believes American companies are exploiting Irish law to avoid paying tax in America. The Apple CEO Tim Cook has previously insisted that the company has no special tax rate here.

Newstalk's Business Editor Ian Guider outlined to Breakfast what will happen today.