Oireachtas Joint and Select Committees

Thursday, 22 February 2018

Public Accounts Committee

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

9:00 am

Photo of Catherine MurphyCatherine Murphy (Kildare North, Social Democrats)
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In respect of bank debts or liabilities, we read not long ago that one particular bank that had been bailed out would not have an expectation of a tax liability for about 20 years. Is there a way of disaggregating some elements of commercial trading? I refer to the banks. I can understand a small company may have accumulated debts and writes those debts off against taxes. That is understandable. I can visualise why that would be required. Is there a way of separating out the two? Can a bailed-out bank be treated differently for tax purposes? Can portions of the corporate sector be separated out or must there be equal treatment right across the board?