Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I cannot get information about particular taxpayers or particular corporations. I have no evidence or briefing to suggest that this comes largely from one source. This is very broad based. I will set out for Deputy Ross the part of my reply that I did not get to. While corporation tax receipts are concentrated in the multinational sector, it should be noted that the improvement is relatively broad based. In this regard, I am advised by the Revenue Commissioners that there has been an increase of more than 20% in the number of companies paying between €100,000 and €5 million up to the end of October this year, as against same period last year. This is reflected in the receipts, which were also up by more than 20% in this category. It is broadly based. It is for trading purposes. Approximately 50 multinationals are in contact over the telephone on a regular basis with the Revenue Commissioners. The group is small. The Revenue can see what is going on. Those involved say they are all trading stronger. That may be due to the decline in the value of the euro. They are trading strongly this year, are making extra profits and they are paying tax on their extra profits.

There may be some element of intellectual property being brought ashore. Again, I cannot identify that but that was one of the purposes of the amendments I moved when we discontinued the practice of residency that facilitated the double Irish arrangement.

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