Dáil Éireann Debate, Wednesday - 10 November 2010
85 Deputy Jimmy Deenihan asked the Minister for Finance the reason receipts for corporation tax as published on 2 November 2010 were below the receipts for the equivalent period in 2009; and if he will make a statement on the matter. [41612/10]
Amharc ar fhreagraCorporation tax receipts in the first ten months of the year, at €2.6 billion, were €206 million or 7.3% below the level collected in the same period of 2009. The Budget 2010 forecast anticipated a decline of 19% in corporation tax receipts this year. This assessment was made having regard to a number of factors including a weak economic environment and 2009's receipts receiving a once-off benefit from a payment date change.
However, it is encouraging to note that corporation tax receipts have performed better than expected this year and at end-October, receipts were €473 million or 22% above the amount which had been targeted for collection. November is a key month for corporation tax collection, but given the performance of receipts to date, the overall forecast for corporation tax receipts for this year may be bettered.
