Tom Maguire: Why we’re likely to see the tax base broaden in the future
The exchequer weathered the pandemic fairly well, but only thanks to our now-endangered corporate tax base. Both the state and the IMF agree it would be wise to now spread the risk
The Department of Finance recently released its annual taxation report. It stated that 2020’s tax performance had resulted in a “modest decline in income tax receipts which, despite the exceptionally large fall in employment, fell just €224 million relative to 2019”.
The end-year outturn was €22.7 billion, 6.9 per cent ahead of 2018 levels and more than double the income tax yield in 2010.
The report said that aggregate employment had fallen by 4 per ...