Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

There are different ways of approaching this and there are different answers. Percentages do not buy the bread and milk. My opinion is that the best source is the Revenue Commissioners, which published statistical reports on corporation tax which are now more lengthy than they used to be. In the 2012 Revenue Commissioners statistical report, which refers to 2011 data, it was indicated that the aggregate net taxable profits, after taking account of various deductions, allowances, charges, reliefs and so on, amounted to €40 billion. That is the earnings of the multinationals working and making profit in this country. On that sum, €4.2 billion in tax was paid. That is the hardest data we have, as it is the pounds, shillings and pence, or the euro. It is not a percentage but rather hard cash. That works out for 2011 at an approximate rate of 10.5%. It is somewhere around there.