21 Feabh 2018, 17.01

The Public Accounts Committee will resume its hearings on Corporation Tax receipts at its meeting tomorrow, Thursday, 22 February 2018.

The schedule for tomorrow’s meeting is:

9.00 a.m. (i) Business of the Committee
(ii)C&AG Report 2016
Chapter 20: Corporation Tax receipts
[Dr. Brian Keegan, Chartered Accountants Ireland ]
(Followed by Private Session)
2.30 pm C&AG Report 2016
Chapter 20: Corporation Tax receipts
[Officials from the Office of the Revenue Commissioners and Department of Finance]

Committee Chair Sean Fleming said:  “For members of the public it is important to remember that Corporation Tax accounted for 15% of total tax receipts in 2016 but this tax has displayed considerable volatility in recent years. 70% of all Corporation Tax is paid by the top 100 companies and 37% by just 10 companies. Such a concentration represents a serious risk to the Exchequer and the Committee wishes to understand fully this risk and how it might be best dealt with.

Before we meet with officials from the Office of the Revenue Commissioners and Department of Finance, the Committee will hear from Dr Brian Keegan, Director of Tax and Public Policy at Chartered Accountants Ireland who has written extensively on the area of area of corporation tax policy in Ireland, for an overview of corporation tax administration in Ireland and to get his perspective on the issue.

Among the issues the Committee may focus on at our meeting tomorrow are: tax treatment of dividends, patents, research & development and knowledge development; double taxation treaties; the level of discretion, if any, available to Revenue in the application of the tax code; the accuracy of corporation tax receipts forecasting; how Ireland compares with other OECD countries in terms of statutory and effective corporation tax rates; and the concentration of tax receipts in terms of economic sectors.”

This PAC meeting will start in Committee Room 3 at 9am on Thursday, 22 February 2018.

Committee proceedings can be viewed live here.

Committee proceedings can also be viewed on the move, through the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.






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Committee membership

Teachtaí

Solidarity - People Before Profit

Sinn Féin

Social Democrats

Fergus O'Dowd - Cathaoirleach

Fine Gael

Fianna Fáil

Fine Gael

Fianna Fáil

Seanadóirí

Fine Gael

Fine Gael

Fianna Fáil