Thomas P. Broughan
Question:81. Deputy Thomas P. Broughan asked the Minister for Finance his plans to propose an annual review of performance of his Department in tax forecasting. [45802/19]
View answerWednesday, 13 November 2019
Questions (81)
Written answers
My Department periodically reviews its approach to tax forecasting, with the most recent full review published in 2008.
A new review group has been established with a mandate to review and assess tax forecasting methodology over the past decade. The Tax Forecasting Methodology Review Group is composed of members of various institutions, both domestic and international, engaged in tax forecasting so that relevant experience can be shared. The group’s analysis has focused on the composition of the Irish tax take and the accuracy of forecasts and involves examining the information bases upon which forecasts are made.
The group has to date met on six occasions, with one further meeting planned before its Report is finalised. The group aims to issue the Report before year-end with recommendations, where appropriate, for changes to the current tax forecasting methodology.
Finally, I would point out that my Department has, since 2018, published an Annual Report on Taxation, outlining the main trends in the key tax heads over a longer time horizon.