Oireachtas Joint and Select Committees
Thursday, 17 November 2022
Public Accounts Committee
2021 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Finance Accounts 2021
2021 Report on the Accounts of the Public Services of the Comptroller and Auditor General
Chapter 1 - Exchequer Financial Outturn for 2021
Chapter 2 - Net Cost of Banking Stabilisation Measures
Chapter 22 - Ireland Apple Escrow Fund
9:30 am
Mr. John McCarthy:
It is certainly a possibility. We have a slowdown in the ICT sector built into our numbers, but since we published the budget, it is fair to say the correction in the sector has been a little stronger than we might have thought. There are other issues going on on the corporation tax front, such as the exhaustion of intellectual property allowances, which is feeding through into this year's numbers, and that may offset it to some extent. Even so, there is certainly a risk to 2023 and, more likely, to the 2024 corporation tax number.
That is just on where the sectors are going. There are also risks on the policy front, which Mr. Hogan was talking about, through the base erosion and profit shifting, BEPS-----