Oireachtas Joint and Select Committees
Thursday, 15 November 2018
Public Accounts Committee
2017 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 9: Office of the Revenue Commissioners
Chapter 17: Revenue's Progress in Tackling Tobacco Smuggling
Chapter 18: Management of High Wealth Individuals' Tax Liabilities
Chapter 19: Corporation Tax Losses
9:00 am
Mr. Niall Cody:
It is not that we do not want to do it; it is that there is no basis for us to do it. If the Oireachtas determined there had to be a separate calculation, then we would have to capture it but we do not have a basis. With regard to the age process, there is no rule to say oldest losses first. There is a rule that losses are used against the first profit that comes up.