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'
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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EY reports €393m revenues in Republic of Ireland for 2021 financial year
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The way we did business a few months ago may never return – so the opportunity is to make changes that will both aid recovery and set us up well for our new futures