Ten companies contributed 57% of total corporation tax take in 2022

Finance Minister Michael McGrath said his department estimated that about €12bn in corporation tax expected this year was 'windfall in nature' and 'cannot be relied upon in the future'

Finance Minister Michael McGrath has warned against building up permanent expenditure based on receipts which 'could prove to be temporary'. Picture: Damien Storan

The percentage of corporation tax receipts being paid by just 10 companies in Ireland has grown to 57%, as the Finance Minister warns against building up permanent expenditure based on this “windfall”.

On Wednesday, the Revenue Commissioners published its annual report for 2022 which showed net corporation tax receipts collected came to €22.6bn, up 48% on 2021. Corporation tax is the second largest tax-head representing 27.5% of net tax receipts in 2022.