Corporation Tax

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Corporation Tax

A COMPREHENSIVE SERIES OF ARTICLES ON THIS TOPIC

<p>An increase in unemployment would be far more corrosive to the national finances than any surge in inflation. The concern should be more about whether companies are able to employ people, rather than merely be able to pay tax. File picture: Dan Linehan</p>

economy

Brian Keegan: Our misguided obsession with corporation taxes

The impact of recent economic decisions already taken in this country will first be felt in the coming year

<p>The Government and economists have signalled the inevitability for some sort of fall in the receipts from 2022 which had boomed from the payments made by pharma giants such as Pfizer and the big tech firms that had chosen to report parts of their global tax revenues and profits in Ireland. </p>

economy

No late surge in corporation tax receipts, but November revenues set to calm nerves

<p>Spotlight remains on weakening corporation tax receipts.</p>

economy

Tax revenues drop by €1bn in October as corporation tax receipts disappoint again

Euro coins. Euro money. Euro currency.

economy

Wealth fund should focus on international markets, says Oireachtas committee

Irish inflation

economy

Multi-billion euro package of one-off budget measures likely amid record €47.8bn tax receipts

Irish manufacturing sends out a warning ahead of two key Government forecasts

economy

Irish manufacturing sends out a warning ahead of two key Government forecasts

ESRI warns Government to avoid taking measures that could overheat the economy

ESRI warns Government to avoid taking measures that could overheat the economy

Government urged to put more cash into the National Reserve Fund in 2024 rather than succumb to the temptation of spending more in what could be an election year

Thu, 29 Jun, 2023

Multinationals pay workers €37bn, or a third of all wages in Republic

Multinationals pay workers €37bn, or a third of all wages in Republic

Research by economist John FitzGerald also finds living standards in the Republic are above the average of EU countries, despite the elevated level of prices here

Tue, 27 Jun, 2023

Empty Kitchen Cupboards

Mark Henry: Our corporate tax windfall can bring life-changing equality to our thriving nation

Deploying our tax windfall wisely will enable us to further reduce well-being inequality and to make Ireland a happier place to live for all.

Wed, 14 Jun, 2023

File Photo PEOPLE ARE BEING warned to be alert against a phishing scam involving fraudulent emails and texts

Coalition warned not to use 'excess' revenues for tax cuts

Irish Fiscal Advisory Council urges Government to put 'excess' corporate tax receipts into a reserve fund

Thu, 01 Jun, 2023

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

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'

Wed, 26 Apr, 2023

Pen on the business paper. Report chart

Corporate profits surge nearly 20% driving huge tax haul

The Government is projecting to take in €24.3bn in corporation tax this year and €25.1bn next year.

Tue, 25 Apr, 2023

Bioreactor

Multinationals producing five times more than Irish-owned firms, figures indicate

It has been suggested that some of the manufacturing output by large multinationals in other countries has been included in these Irish productivity figures.

Mon, 24 Apr, 2023

Government surpluses to be invested in fund

Government surpluses to be invested in fund

Of the €88.9bn tax intake projected for this year, €24.3bn is expected to come from corporation tax

Tue, 18 Apr, 2023

Brexit

Sunak to push ahead to increase UK corporation tax rate back to 25%

Conservative party MPs calling for halt to planned rise from the current 19% in April

Mon, 06 Mar, 2023

Government posts €5bn surplus in State's finances for 2022

Government posts €5bn surplus in State's finances for 2022

Turning a deficit into a significant surplus was largely due to a massive windfall in corporation tax receipts

Wed, 04 Jan, 2023

Consumers and technology study

By depending on so few tech giants, Ireland could become a victim of its success

As the tech bloodbath continues, Alan Healy looks at the implications for Ireland

Sat, 12 Nov, 2022

Microsoft to buy Linkedin

LinkedIn's Irish operations increase profits to €177m

The firm last year paid out a dividend of €250m

Mon, 07 Nov, 2022

Jim Power: Global tech trouble clouds Irish economic outlook

Jim Power: Global tech trouble clouds Irish economic outlook

Layoffs at Twitter and Stripe, and poor results at Facebook and Amazon, bring a new uncertainty about the tech sector

Sun, 06 Nov, 2022

Twitter-Shareholder Meeting

The envy of many countries, Ireland's tech sector enters an uncertain future

Twitter, Stripe, and Intel have all made stark announcements about significant job cuts recently

Thu, 03 Nov, 2022

'Stellar' corporation tax receipts help boost revenues to €6bn in October

'Stellar' corporation tax receipts help boost revenues to €6bn in October

"The big unknown is what impact the current global economic slowdown will have on future revenues," said Peter Vale, tax partner at Grant Thornton Ireland.

Wed, 02 Nov, 2022

People come to live and work in Ireland for many reasons, but low taxes is not one of them

People come to live and work in Ireland for many reasons, but low taxes is not one of them

Ireland has a competitive tax environment for companies but we do not compete well when it comes to personal tax

Sun, 30 Oct, 2022

Neil McDonnell: Revenue must plan to write off half the debt warehoused due to pandemic

Neil McDonnell: Revenue must plan to write off half the debt warehoused due to pandemic

This moratorium is likely to prove the only thing standing between thousands of small businesses and insolvency

Sun, 23 Oct, 2022

Reduced Vat for hospitality of 9% still slated to end in February, tax documents show

Reduced Vat for hospitality of 9% still slated to end in February, tax documents show

Analysis of various tax proposals is contained in a swathe of research released by the Department of Finance from its Tax Strategy Group.

Thu, 11 Aug, 2022

Donohoe: 15% corporate tax rate 'pretty likely' next year

Donohoe: 15% corporate tax rate 'pretty likely' next year

Finance Minister Paschal Donohoe has said he fully expects the OECD’s agreed 15% global corporate tax rate for large multinational companies to come into being, as targeted, by next year, with the chances of it happening by then becoming clearer by ...

Fri, 04 Feb, 2022

CC INNER CITY REPORT

Corporation tax revenues of €13.5bn already exceed haul for whole of last year

Overall, the exchequer collected €11.3bn from all types of taxes in November, some €1.5bn more than was anticipated for the month

Fri, 03 Dec, 2021

Google Ireland pays exchequer €218m to settle unspecified 'tax matters'

Google Ireland pays exchequer €218m to settle unspecified 'tax matters'

The tax payment was for "adjustments for corporation tax of prior periods", according to the latest statement for its Ireland-based company.

Thu, 25 Nov, 2021

Fine Gael Think In

Hit of €2bn to exchequer revenues from global tax accord 'still best estimate for now'

Paschal Donohoe tells Oireachtas finance committee the new minimum rate will be applied evenly across Europe

Wed, 10 Nov, 2021

Ireland faces long road to understanding fallout from global tax overhaul

Ireland faces long road to understanding fallout from global tax overhaul

Experts have said the accord will mean Ireland will attract fewer foreign direct investment projects in the future from, in particular, US multinationals, which have helped underpin the prosperity of the State over the past three decades

Thu, 04 Nov, 2021

CC PASCHAL O DONOHOE

Booming corporate tax receipts brought in €1.5bn last month

The latest Exchequer returns show corporation taxes brought in almost €1.5bn in October, which was €964m more than anticipated

Tue, 02 Nov, 2021

Joe Biden

Global tax overhaul faces an unusual hurdle in US Senate debate

An arcane legal argument could America's participation in a global tax deal, backed by 136 countries, in jeopardy.

Tue, 12 Oct, 2021

Martin Shanahan: Ireland is still well-placed to compete for FDI

Martin Shanahan: Ireland is still well-placed to compete for FDI

The announcements in the budget of supports and funding allocated to housing, education, childcare and infrastructural development are to be welcomed, as is the €90m aviation package to help Ireland rebuild vital connectivity

Tue, 12 Oct, 2021

Minister Paschal Donohoe announcement regarding Bank of Ireland trading plan

S&P: Corporation tax hike will weigh on Irish public finances

Although the longer-term outlook for new foreign direct investment is 'uncertain', the ratings agency believes that 'most' multinationals will not relocate out of Ireland.

Mon, 11 Oct, 2021

U.S. Treasury Secretary Janet Yellen at Eurogroup Finance Ministers Meeting

Irish Examiner view: Tax deal shows we're part of the solution rather than the problem

Agreeing to jettison our 12.5% corporate tax rate is the price of being good Europeans.

Sat, 09 Oct, 2021

Fine Gael party 'Think in' event

Varadkar: Corporation tax change won't damage Ireland's bid to attract investors

The new deal will see big multinationals pay an effective minimum global rate of 15%

Fri, 08 Oct, 2021

Biden Debt

For Ireland, all eyes on Biden tax plans after conceding 15% rate

The focus for Ireland must now be on how the country can remain competitive in areas outside of tax.

Fri, 08 Oct, 2021

FILE PHOTO National Treasury Management Agency (NTMA) Chief Executive Conor O'Kelly has today told the Public Accounts Committee

Corporation tax hike 'number one concern' for international investors

Ireland’s prospective move to a 15% corporation tax rate would likely have an effect on the country’s tax take of €2bn a year, Public Accounts Committee told

Thu, 07 Oct, 2021

Coronavirus - Mon Jun 28, 2021

Raising corporation tax to 15% will cost Ireland €2bn annually, says Varadkar

Majority of companies will not be impacted, taoiseach Micheál Martin said

Thu, 07 Oct, 2021

Coronavirus - Tue Aug 31, 2021

Taoiseach confirms 'significant progress' on new corporation tax rate of 15%

The Government looks all but set to join the OECD agreement on a minimum corporate tax rate of 15%

Wed, 06 Oct, 2021

U.S. Treasury Secretary Janet Yellen at Eurogroup Finance Ministers Meeting

Ireland moves step closer to ditching 12.5% corporate tax rate

There is some confidence that any increase in the corporate tax rate would not apply to companies with a turnover of less than €750m

Tue, 05 Oct, 2021

U.S. Treasury Secretary Janet Yellen at Eurogroup Finance Ministers Meeting

'Make or break' Cabinet meeting could see Ireland abandon 12.5% corporation tax rate

The Government will be in a position to confirm the Irish position on the OECD process this week, finance minister Paschal Donohoe told reporters in Luxembourg.

Tue, 05 Oct, 2021

Coronavirus - Tue Aug 31, 2021

Corporation tax rate of 12.5% 'not Ireland's unique selling point', claims Michéal Martin

The Taoiseach cited Ireland joining the European Union as critical to the continued economic transformation of the state

Tue, 28 Sep, 2021

Janet Yellen Presents Semiannual Monetary Policy Report At Senate Hearing

Yellen urges Ireland to sign up to global tax deal

US Treasury Secretary Janet Yellen urged Finance Minister Paschal Donohoe to take a "once-in-a-generation opportunity" for a deal that aims to overhaul the way multinationals are taxed around the world.

Thu, 23 Sep, 2021

Small firms' taxes will not rise beyond 12.5% under OECD deal

Small firms' taxes will not rise beyond 12.5% under OECD deal

Only large multinational firms with turnovers of more than $750m a year would face a higher corporate tax bill should Ireland sign up to the OECD deal, Tánaiste Leo Varadkar said

Wed, 22 Sep, 2021

Fianna Fail Think-In

Taoiseach can't guarantee corporate tax rate of 12.5%

Paschal Donohoe also said a tax on vacant homes will not “change the game” in solving the housing crisis on its own

Tue, 21 Sep, 2021

CC PASCHAL O DONOHOE

Economy emerging from crisis rapidly as tax revenues soar

Three of the big four tax sources helped deliver €39.5bn this year, leaving State finances in good shape ahead of Budget 2022

Thu, 02 Sep, 2021

Billy Kelleher: We need to wean ourselves off unsustainable corporate tax revenues

Billy Kelleher: We need to wean ourselves off unsustainable corporate tax revenues

Government reliance on corporate tax receipts from multinationals for day-to-day expenditure leaves us vulnerable to any fall in this revenue and is unsustainable in the long term

Tue, 17 Aug, 2021

Italy G20 Finance

Corporate tax agreement a big step forward for global justice

We need wise strategies and bold tactics to deliver on a truly multilateral agenda for all. The recent global agreement to reform international corporate taxation is a vital step forward, write Josep Borrell and Paolo Gentiloni

Wed, 28 Jul, 2021

Ireland not being 'bullied' into changing tax rate, claims Finance Minister

Ireland not being 'bullied' into changing tax rate, claims Finance Minister

Paschal Donohoe will today launch a public consultation on the OECD's global tax alignment, which would see rates set at a minimum of 15%

Tue, 20 Jul, 2021

At least three reasons why Ireland is right to resist 15% global corporate tax push

At least three reasons why Ireland is right to resist 15% global corporate tax push

There are at least three reasons why Ireland’s current resistance to international rules establishing a minimum 15% tax rate for multinationals is warranted.

Sun, 18 Jul, 2021