Irish Corporate Tax Spending Plan Is Risky, Fiscal Watchdog Says

The Irish government’s plan to spend the majority of its corporate tax receipts rather than save them next year is risky and unnecessary, the country’s fiscal watchdog plans to tell parliament Tuesday.

Saving 15% of the receipts next year, down from 32% this year, would be a “marked shift in policy,” the Irish Fiscal Advisory Council wrote in a submission planned for delivery to the Committee on Budgetary Oversight and seen by Bloomberg Tax.

“While we don’t anticipate a sudden fall in corporation tax, it is a volatile revenue source to be basing day-to-day spending on,” IFAC Chairperson Seamus ...