Oireachtas Joint and Select Committees

Wednesday, 14 December 2022

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Office of the Revenue Commissioners: Engagement

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

Yes. It is as broad as daylight. It is different from some of the other stuff where it is trying to be hidden.

I will ask about some core issues. Corporation tax concentration has increased. As Mr. Cody mentioned, the top ten companies made up 40% of such tax just three years ago but that has now increased to 53%. When we look at the group of companies, the figure is 56%, which is a significant increase in corporation tax receipts. In the context of the large corporates division in Revenue, did Revenue anticipate that type of level of increase in corporation tax receipts? It appears it did not. This is not a question of why Revenue did not know, rather, if the officials can give any insight to this committee. There is huge volatility in these receipts. Is there any certainty that next year might repeat itself? Could it even be higher again? We are seeing increases in the region of 50% over a short period. Could we see volatility next year? What is Mr. Cody's insight into the large corporates division that is dealing with these groups, including these ten groups, which make up nearly €10 billion of our corporation tax receipts?

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