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. Gerry Howard:

We supplied the committee with figures last year. We have figures for this year also and I will go through them. As at 2015, With regard to financial and insurance activities, in 2015 there were losses of €119 billion. As my colleague, Mr. Walsh said, we estimate that approximately €40 million will never actually be utilised. The other figures are: administrative and supportive service activities, approximately €36 billion; information and communication, approximately €10 billion in forward losses; construction, about €9 billion; manufacturing, about €8 billion; transport, about €8 billion; wholesale and retail trade, including the repair of motor vehicles and motorcycles, €7 billion; and all others, about €10.5 billion. This gives a total of €280 billion in forward losses as at 31 December 2015. Of this, we were estimating that at least €40 billion was unlikely to be used.

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