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
Dr. Keith Walsh:
It is important to bear in mind what I said at the beginning of my presentation about timing of returns. We are only receiving returns for 2016 during the course of 2017. Those returns will not be available to us for analysis purposes in a complete and comprehensive form until early 2018. That is why, at the moment, the most recent year we have is 2015 data. We would like more recent information ourselves for analysis, but the tax returns simply are not due to be filed on a timing basis that would allow that.
On the information included in the paper versus what is not in the paper, it is important to bear in mind that we tried to bring this paper out as quickly as we could. We tried to do the analysis, in some cases on provisional data, and we published the paper in April. What we always do at this time of year is publish a series of more detailed data tables that provide much more information and more breakdowns of corporation tax, the breakdown of companies by the income earned, the reliefs, and the breakdown of different reliefs by income earned. We have much more information that is publicly available. It is on our website. We have no problem with providing the committee with links to where that can be found if there is a difficulty in accessing it.
With regard to the Deputy's particular comment on trading profits, he is correct in his interpretation. As he knows, table 2 in the paper shows the trading profits by sector in 2015 and 2014. The year 2015 is the most recent we have. It shows the percentage and absolute increases in trading profits between those two years. I am not sure if it is in the paper, but I think the Deputy mentioned non-trading profits as well. Non-trading profits in 2014 were €2.45 billion - €2.5 billion, basically.
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