€950m tax take from IFSC firms, latest figures show

Finance Minister Michael Noonan has confirmed that the estimated tax paid by companies operating out of the International Financial Services Centre (IFSC), in Dublin, totalled over €950 million in 2013.

In a breakdown provided to Fianna Fáil’s Michael McGrath, Mr Noonan stated that firms at the IFSC paid out an estimated €621m in corporation tax in 2013 and he said that the associated amount of PAYE and USC paid out by IFSC companies is tentatively estimated to be in the region of €332m.

The minister cautioned that “these estimates are tentative and should be considered as provisional, as they may be revised subject to improved information becoming available”.