Tuesday, 29 September 2020

Ceisteanna (63)

Mairéad Farrell


63. Deputy Mairéad Farrell asked the Minister for Finance the sectoral breakdown of the €1.7 billion increase in corporation tax receipts for the first half of the year as shown in the June fiscal monitor; and if he will make a statement on the matter. [16652/20]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I am advised by Revenue that a complete analysis of 2020 Corporation Tax receipts will be provided when tax receipts for the year are fully collected and analysed. Due to the role of large companies in annual receipts and the varying payment timelines for Corporation Tax, receipts for the first six months may not offer a reliable guide to the final 2020 outturn.  

Revenue has also advised me that, based on the available information in respect of Corporation Tax receipts at the end of June 2020, the four sectors responsible for the bulk of the Corporation Tax receipts were ahead of profile. The relevant sectors are Information & Communications, at 38% of receipts, Manufacturing, at 26% of receipts, Finance & Insurance at 17% of receipts, and Administrative & Support Services, at 10% of receipts.

These sectors were also the most significant at the same period in 2019.