Oireachtas Joint and Select Committees

Thursday, 30 November 2017

Public Accounts Committee

Comptroller and Auditor General 2016 Report
Chapter 20: Corporation Tax Receipts

9:00 am

Mr. John McCarthy:

It has not. Total corporate profitability was something of the order of €150 billion on a national accounts basis. One could work out what 12.5% of that figure would be if there were no offsets such as capital allowances, trade charges or losses carried forward. That would not apply in any country however. It is too simplistic an approach because firms are entitled to apply these trade charges and so forth.