Oireachtas Joint and Select Committees

Thursday, 10 July 2025

Public Accounts Committee

2023 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 11 - Office of the Minister for Public Expenditure, National Development Plan Delivery and Reform
Vote 12 - Superannuation and Retired Allowances
Vote 39 - Office of Government Procurement
Vote 43 - Office of the Government Chief Information Officer
Chapter 3 - Vote accounting and budget management

2:00 am

Mr. Seamus McCarthy:

It is. Essentially, it takes account of the time value of money. Money that you should have had a year ago is charged interest to make it equal in economic terms. Interest, as such, is not a penalty within the terms of the tax Act.

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