Finance is ‘flying blind’ over tax spike

The Department of Finance is “flying blind” as to why corporation tax revenues are running €2.3bn ahead of target, senior officials admitted yesterday.

Secretary general Derek Moran and a delegation of top civil servants from the department were appearing before the Public Accounts Committee where they were grilled about the surprising tax revenue figures.

Under questioning from Independent TD Shane Ross, Mr Moran conceded the department does not have any “real-time” information as to why the massive spike in corporation tax revenues occurred.