Saturday June 6, 2020

Corporation tax levels 'long way' from normal, says watchdog

The Irish Fiscal Advisory Council has described the government’s medium-term spending forecasts, set out earlier this year, as 'not credible'

11th June, 2019
Finance Minister Paschal Donohoe at the launch of medium-term economic forecasts earlier this year. Pic: RollingNews.ie

The Irish Fiscal Advisory Council (IFAC) has also suggested that the government should put any future unexpected receipts into a special ‘Prudence Account’.

Its latest report on the public finances says at least €3 billion and as much as €6 billion of the €10.4 billion collected from company profits last year could be considered “excess” - or beyond what should be expected based on the Irish economy’s underlying performance.

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