Tax

Corporation tax receipts ‘extremely unlikely’ to drop dramatically in short space of time - Michael McGrath

Strong corporation tax receipts in November bucked a streak of three relatively weak months beforehand

Corporation tax receipts totalled a record €6.3 billion in November, an almost 27 per cent increase on the same period last year, according to the latest exchequer returns.

It is “extremely unlikely” that corporation tax receipts will slump dramatically over the course of a single year, the finance minister has said.

Michael McGrath said November’s bumper corporation tax revenues were welcome and on the “upside” of the Department of Finance’s expectations but again warned of the volatility of the receipts.

Corporation tax receipts totalled a record €6.3 billion in November, an almost 27 per cent increase on the same period last year, according ...