Donohoe warned not to rely on ‘volatile’ corporation tax

Donohoe warned not to rely on ‘volatile’ corporation tax

Corporation taxes now account for over 15 per cent of all tax receipts, with 80 per cent being paid by multinationals

The fiscal watchdog has warned Minister for Finance Paschal Donohoe about the risks of relying on “unusually high” corporation tax receipts ahead of the budget.

The recent surge in corporation taxes allowed the government to fund €1.7 billion in extra spending over the last two years.

Corporation taxes now account for over 15 per cent of all tax receipts, with 80 per cent being paid by multinationals.

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