Dáil debates
Wednesday, 16 May 2018
Other Questions
Corporation Tax
11:15 am
Pearse Doherty (Donegal, Sinn Fein) | Oireachtas source
In 2015, the Minister's predecessor made a bizarre move when he decided to allow that 100% of the intangible assets of a company could be written off against profits. The result was a massive onshoring of intangible assets. It effectively cancelled out billions of euro of profits for tax purposes. There is no reason this huge mistake cannot be rectified. We know from Mr. Seamus Coffey that the benefit to the State of doing that would be €750 million per year. Is this under consideration in advance of budget 2019?
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