asked the Taoiseach the average taxation borne by Irish public companies, expressed as a percentage of their net profit.
Ceisteanna—Questions. Oral Answers. - Irish Company Taxation.
4.
The information requested by the Deputy is not available. However, certain data, bearing generally on this matter, are available in connection with the compilation of the national accounts. The data relate to public and private companies and all other corporate bodies. The estimated direct tax borne by these concerns in 1965-66 was £23 million. This covers (a) corporation profits tax on total profits, (b) income tax on undistributed profits. Figures for the total profits of the concerns are not available but their estimated trading profits (net of depreciation allowances) in 1964 (out of which the direct tax may broadly be assumed to have been paid) amounted to £78 million, so that the direct tax represented 29 per cent of this figure.
Is the Parliamentary Secretary aware that in most cases taxation comes to 50 per cent of the net profits before taxation?
You know, if there are no profits, you will not have any way to pay wages.
The Deputy is talking like Deputy Childers.
I am talking like an ordinary commonsense man. If there are no profits, there are no wages.