Oireachtas Joint and Select Committees
Thursday, 28 November 2019
Public Accounts Committee
2018 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9 - Office of the Revenue Commissioners
Chapter 17 - Tax compliance interventions
Chapter 18 - Tax relief on film production
9:00 am
Bobby Aylward (Carlow-Kilkenny, Fianna Fail) | Oireachtas source
That is great and good to hear. I am glad that Mr. Cody gave me those few answers. Mr. Cody spoke about corporation tax this morning. I refer to the €10 billion that was brought in and then €6 billion from ten companies. Is he worried that this is a temporary tax? A sum of €6 billion is a lot of money. Could it disappear next year? Could the figure reduce to €2 billion next year and zero the year after? Is he worried because this is a lot of money and could upset our tax returns for any given year over the next five or six years? When we are speaking about billions, it is serious stuff.
Is Mr. Cody, as chairman of Revenue, worried? Does he expect the income to be temporary or will we continue to receive, say, €6 billion from the large companies? They are probably foreign direct investment companies based here. Is Mr. Cody of the view we will become, or are, dependent on them in the same way we became dependent on the construction industry before we went bust? I acknowledge he has commented on it but I would like to hear more.
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