Daily Tax Report ®

Ireland Dangerously Reliant on Company Taxes, Watchdog Says

Nov. 28, 2019, 10:09 AM

Ireland is too reliant on corporation tax from a small number of international operations to fund spending, the state’s fiscal watchdog warned.

Companies pay more than 10 billion euros ($11 billion) worth of tax in Ireland, which is almost a fifth of all tax collected, the nation’s Fiscal Advisory Council said in a report on Thursday. That leaves the government vulnerable to any sudden drop in corporation tax, it said. Half of the corporate tax take flows from 10 companies, the watchdog said.

As much as 60% of the corporation tax take is “beyond what would be projected based on...

To read the full article log in. To learn more about a subscription click here.