Pearse Doherty
Ceist:57. Deputy Pearse Doherty asked the Minister for Finance the reason the corporation tax figures in the end of May Exchequer statement show a significant reduction in year-on-year figures. [28399/13]
Amharc ar fhreagraThursday, 13 June 2013
Ceisteanna (57)
Freagraí scríofa
Corporation tax (CT) receipts to end-May, at €1,042 million, were €150 million (16.8%) ahead of profile and €60 million (5.5%) down year-on-year. This year-on-year reduction at this stage of the year was expected, as it was due entirely to the impact of the delayed €251 million CT payment received in 2012, which was reported on extensively by my Department throughout 2012. As the Deputy may recall, CT receipts in January 2012 benefited from a significant delayed payment proper to December 2011. This significantly distorted the year-on-year comparisons of CT in 2012. In light of this, CT was reported on extensively both on an adjusted basis, as well as on a headline basis, throughout 2012.
The distortionary impact of the delayed CT payment on 2013 year-on-year comparisons was again highlighted in the Exchequer Returns information note for January 2013. Adjusting for impact of the delayed CT payment, receipts were up €191 million (22.4%) to end-May 2013 on an adjusted basis, a very encouraging performance.