Tom Maguire: Why we’re likely to see the tax base broaden in the future

The exchequer weathered the pandemic fairly well, but only thanks to our now-endangered corporate tax base. Both the state and the IMF agree it would be wise to now spread the risk

22nd August, 2021
Tom Maguire: Why we’re likely to see the tax base broaden in the future
The Department of Finance’s annual taxation report for 2020 said that aggregate employment had fallen by 4 per cent. Picture: Getty

The Department of Finance recently released its annual taxation report. It stated that 2020’s tax performance had resulted in a “modest decline in income tax receipts which, despite the exceptionally large fall in employment, fell just €224 million relative to 2019”.

The end-year outturn was €22.7 billion, 6.9 per cent ahead of 2018 levels and more than double the income tax yield in 2010.

The report said that aggregate employment had fallen by 4 per cent,...

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