Michael Fitzmaurice
Question:62. Deputy Michael Fitzmaurice asked the Taoiseach the number of companies that are domiciled here but derive all profits from outside Ireland. [40612/17]
View answerTuesday, 26 September 2017
Questions (62, 63)
Michael Fitzmaurice
Question:63. Deputy Michael Fitzmaurice asked the Taoiseach the number of companies that are domiciled here but repatriate profits from overseas. [40613/17]
View answerWritten answers
I propose to take Questions Nos. 62 and 63 together.
The Central Statistics Office publishes information on the repatriation of profits in and out of Ireland as part of its Balance of Payments statistics. The inward profits repatriated to all Irish-domiciled firms in 2016 was €12,184m. A notable subgroup are firms that have moved their global headquarters to Ireland, mostly in the years 2008 to 2016. These firms are often termed redomiciled PLCs or corporate inversions, where their income is almost entirely received from overseas subsidiaries. These companies repatriated €5,786m in 2016 to their Irish domiciled headquarters. The Central Statistics Office does not compile or publish information on the number of companies with overseas investment or earnings.
The following table shows the corresponding figures for the years 2012 to 2016.
Extract from the Irish Balance of Payments Statistics (€m)
|
- |
2012 |
2013 |
2014 |
2015 |
2016 |
|
Reinvested earnings inflows (profits) of Irish-domiciled firms |
10,915 |
11,583 |
14,199 |
10,562 |
12,184 |
|
Net Income of Redomiciled PLCs |
7,102 |
6,477 |
6,855 |
4,666 |
5,786 |