Central Bank urges government not to spend corporation tax bonanza

Tax revenues from business have more than doubled to €10 billion over the past five years, with changes in international tax rules resulting in a spike in corporation tax

13th October, 2019
Central Bank Director of Economics and Statistics Mark Cassidy

The Central Bank has again urged the government to save excess corporation tax revenue rather than using the bumper receipts to bail out government departments.

Tax revenues from business have more than doubled to €10 billion over the past five years, with changes in international tax rules resulting in a spike in corporation tax.

Experts have repeatedly warned that the sudden increase in revenue recorded in recent years may not be sustainable and have advised...

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