Pearse Doherty (Donegal, Sinn Fein)
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90. To ask the Minister for Finance why Corporation Tax receipts are 87 per cent ahead of target in the first three months of 2016; and if he will make a statement on the matter. [6400/16]

Michael Noonan (Limerick City, Fine Gael)
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The position is that at end-March 2016, corporation tax receipts were €305 million or 87.3 per cent higher than expected at €654 million.  I am advised by the Revenue Commissioners, that the over-performance in the first quarter of 2016, is primarily due to a number of unexpected payments, c. €300 million, from a small number of large multinational companies.

I am further advised by the Revenue Commissioners that they have carried out an initial investigation of these payments.  However, due to the rules associated with the payment of preliminary corporation tax, further information will not be available until the various companies file their relevant tax returns or subsequently are in a position to inform Revenue whether these increased payments are one-off in nature, or if they can be considered in line with their final tax expectations for the year.     

Finally, I would point out that adjusting for these unexpected payments, corporation tax receipts at end-March 2016, are in line with target.