Alarm as Department of Finance hikes corporation tax forecast by €500m

Alarm as Department of Finance hikes corporation tax forecast by €500m
Paschal Donohoe: the Minister for Finance previously disregarded extra corporation tax receipts as a ‘one-off’ Picture: Getty

Fianna Fáil finance spokesman Michael McGrath said the move highlighted the overdependence on corporate tax receipts

The government has been warned about its “overdependence” on corporation tax after it decided to factor in an extra €500 million in corporation tax revenue this year.

Minister for Finance Paschal Donohoe had disregarded an extra €700 million in additional corporation tax payments when he was putting together the 2019 budget, saying they were a ‘one-off’ that could not be relied on.

But since then the Department of Finance has decided to increase the forecast revenue this year...

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