Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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341. To ask the Minister for Finance the recourse available to an individual where they are affected by the collapse in a prepaid card company (details supplied); and the way in which they can retrieve their money. [54745/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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In relation to PFS Card Services Ireland limited, I would note the following:

Interpath Ireland were appointed as the joint liquidators of PFS Card Services Ireland Limited (In liquidation) (the “Joint Liquidators”). In the process of undertaking the liquidation they have applied to the Irish High Court for direction in respect of the proper interpretation of certain provisions of the European Communities (Electronic Money) Regulations 2011 (SI No 183/2011) (as amended), as it relates to the treatment and return of remaining cardholder funds (the “Directions Application”).

The High Court direction is required before the Joint Liquidators can finalise the process which cardholders will be required to follow to claim any outstanding funds. The hearing of the Directions Application took place on Tuesday, 22 July 2025 and Wednesday, 23 July 2025, however, the date when the High Court will deliver its direction decision is not currently known.

Until such time as the Joint Liquidators have received direction, the ability for cardholders to receive their outstanding funds is suspended, with balances remaining on cards frozen i.e. individuals cannot use their cards.

Whilst funds remain frozen, they continue to be required to be safeguarded in accordance with the Company’s obligations under the European Communities (Electronic Money) Regulations 2011 (as amended).

Further information for cardholders, including how to join a mailing list for further updates, is available on interpath.com/pcsil/.

Under the National Payments Strategy published in October 2024, the Department of Finance is examining, with input from the Central Bank, the need to provide the Central Bank with liquidation powers in order to manage failing payment or electronic money institutions.

Ken O'Flynn (Cork North-Central, Independent Ireland Party)
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342. To ask the Minister for Finance the revised forecast for corporate tax receipts in 2026; the percentage share of total corporate tax revenue projected to arise from the ten largest paying corporations; his Department’s assessment of volatility or concentration risk within this revenue stream; and the fiscal buffers or corrective mechanisms identified to mitigate the impact of a potential downturn in multinational tax contributions. [54751/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Economic and Fiscal Outlook document published as part of Budget 2026 sets out the latest fiscal projections including for corporation tax receipts. For 2026, corporation tax receipts are projected at €34 billion.

My Department does not forecast the expected share of corporation tax receipts paid by the top ten payers. However outturn data is published by the Revenue Commissioners annually. The latest analysis indicates that the top ten payers accounted for some 57 per cent of corporation tax receipts in 2024.

The most recent report is available at the below link:

www.revenue.ie/en/corporate/documents/research/ct-analysis-2025.pdf.

I have frequently warned of the risks associated with this degree of concentration and the resulting volatility in this revenue stream, and my Department has published a significant volume of analysis on this. The corporation tax base is concentrated among a small number of firms and in a small number of FDI-related sectors, meaning that our public finances remain vulnerable to a shock to the multinational sector.

Addressing this risk is a key pillar of this Government’s approach to budgetary policy. As of this year, we have transferred some €16 billion in volatile ‘windfall’ corporation tax receipts into the Future Ireland Fund and Infrastructure, Climate and Nature Fund to build up our fiscal buffers instead of using these receipts to fund day-to-day spending.

As set out in the Budget 2026 fiscal projections, we are committed to continuing to make transfers into the two funds, as well as continuing to run headline budgetary surpluses. This is the best way to mitigate the risks associated with a highly concentrated corporation tax base.

Cathal Crowe (Clare, Fianna Fail)
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343. To ask the Minister for Finance the measures he is taking to safeguard Ireland’s business aviation interests through the anticipated significant financial burden that would follow the proposed revision of the Energy Taxation Directive; and if he will make a statement on the matter. [54851/25]

Paschal Donohoe (Dublin Central, Fine Gael)
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Ireland’s excise duty treatment of aviation fuel is governed by European Union law as set out in Directive 2003/96/EC, commonly known as the Energy Tax Directive (ETD). ETD provisions on liquid fuels are transposed into national law in Chapter 1 of Part 2 of Finance Act 1999 (as amended). This legislation provides for the application of excise duty in the form of Mineral Oil Tax (MOT) on liquid fuels, including those used for aviation.

Heavy oil, or aviation kerosene/jet fuel, is the most commonly used fuel for commercial aviation. The current MOT rate on jet fuel is €615.76 per 1,000 litres. In line with the ETD, Ireland applies a full MOT exemption to jet fuel used for commercial aviation, including domestic, intra-community and international flights. I am advised by Revenue that based on volumes declared as exempt on MOT returns, the total MOT amount relieved on jet fuel used for commercial air navigation in 2024 is estimated at €944.1m.

Light oil, or aviation gasoline, is much less commonly used in commercial aviation. The current MOT rate on aviation gasoline is €706.14 per 1,000 litres. Under the ETD, Member States may partially or fully relieve aviation gasoline used for commercial aviation from taxation. Ireland has opted to apply a partial MOT relief to aviation gasoline used in commercial aviation, including domestic, intra-community and international flights. The relief operates by way of repayment at a rate of €232.27 per 1,000 litres, which means the effective rate of taxation is the MOT rate, minus €232.27. I am advised by Revenue that based on repayment claims, the total MOT relieved on aviation gasoline used in commercial aviation in 2024 was €0.1m.

Under the ETD, all fuel used for private pleasure air navigation is mandatorily taxed. For MOT purposes, private pleasure air navigation means the use of an aircraft, including the hiring of an aircraft, for any purpose that is not commercial.

It should be noted that industrial emissions from large installations are subject to significant carbon pricing under the EU Emissions Trading System or EU ETS. The aviation industry is subject to such carbon pricing.

In July 2021, as part of the Fit for 55 Package, the Commission published a proposal to revise the Energy Tax Directive. The taxation of intra-community flights forms part of this proposal. Ireland has been actively engaged in negotiations of this proposal, which are ongoing.