Corporate tax windfalls remain a puzzle

It remains difficult to judge how much of the huge haul in corporate tax revenues are windfalls and will not be repeated in the coming years, according to research by the Department of Finance.

Its research, Modelling Recent Developments in Corporation Tax, found most of the €10.4bn the exchequer collected last year in corporation tax revenues can be accounted for in economic models. “However, close to €1bn of receipts in 2018 cannot be fully captured by standard macroeconomic variables,” it stated.