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Tom Maguire: Revenue’s input critical as global rule changes present challenges

While headway was made last year on complex EU tax issues, it is still an evolving area and guidance is essential if new measures are to be implemented

Paschal Donohoe, Minister for Finance. Ecofin, the Eurogroup of finance ministers, failed to agree recently on the implementation of the OECD Pillar 2, which involves the introduction of a minimum 15 per cent global tax rate. Picture: RollingNews

In its 2021 annual report, which was published on May 11, Revenue gave us an overview of the country’s tax situation.

The body collected total gross receipts of almost €96.6 billion, including €17.5 billion in non-exchequer receipts collected on behalf of other government departments, agencies and EU member states. Net exchequer receipts of €67.5 billion were up by 20 per cent, or €11.3 billion, on 2020.

Significant work was done last year on the complex ...