Oireachtas Joint and Select Committees

Wednesday, 14 June 2017

Committee on Budgetary Oversight

Corporation Tax Receipts: Department of Finance and Revenue Commissioners

3:00 pm

Mr. John McCarthy:

Before my colleague comes in, I note that what I am saying has never been tested legally because we are in a whole new space here. However, I point out that once one has the MTO, one can never be required to overachieve one's MTO. In other words, if one gets to 0.5% next year, one cannot be told to take an additional 0.2% because one had not done it the year before, which would bring one to 0.3%. It is crystal clear that one can never be required to do that. Mr. Palmer has a couple of points he wants to make in reply to the Deputy.

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