#shorts

In this short video, we're highlighting 6 facts about Irish corporation tax. Number one, corporate tax receipts have increased from under €4bn in the 1980s to €22.6bn today. Number two, corporation tax accounts for 27.5% of Ireland’s net tax take. Number three, 57% of net corporate tax receipts comes from just 10 companies, while nearly 80% comes from 171 companies. Number four, foreign multinational companies account for 86.5% of net corporate tax receipts.

Number five, contrary to popular belief, Irish multinational companies are paying a lower effective tax rate than foreign multinational companies at 6.9%. And number six, employment in foreign multinational companies produces more income tax and USC for the Exchequer than both employment in Irish-owned multinational and non-multinational companies combined. PRSI and VAT receipts are also higher in foreign multinational companies.

This just shows how reliant Ireland’s public finances are on foreign multinational companies.

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