Interesting Corporation Tax data from the Comtroller and Auditor General

Brendan Burgess

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The C&AG has a chapter on our Corporation Tax receipts in his Annual Report.

20 - Corporation Tax Receipts

Conclusions
20.30 Corporation tax receipts are subject to dramatic changes year-on-year, and have been
difficult to forecast. Apart from economic trends, concentration of receipts among
taxpayers affects the ability to produce accurate forecasts.

20.31 Corporation tax receipts are highly concentrated both in terms of sectors and by numberof taxpayers. Three sectors of the economy account for around 70% of the total
corporation tax receipts — financial and insurance activities; manufacturing (including
pharmaceutical manufacturing); and information and communications. For 2016, 37% of
corporation tax receipts were paid by the top 10 taxpayers and 70% by the top 100
taxpayers.

Effective rate of corporation tax
20.32 The effective rate of corporation tax allows for comparison of tax rates between countries.While Ireland had the lowest statutory rate of corporation tax in the OECD, a study by PwC and the World Bank showed that when looking at effective corporation tax rates, 12
OECD countries had a lower rate than Ireland.

20.33 The effective corporation tax rate also allows for useful comparisons between companies in Ireland. In 2015, the top 100 companies, ranked by taxable income, had a lower average effective corporation tax rate (9.3%) than the rate applying to all companies of
9.8%. This masks significant variations within the top 100 companies. While 79 of the
top 100 companies had an effective corporation tax rate of between 10% and 15%, 13
had an effective rate of less than 1%. This reflects the use of significant tax credits and
reliefs, in particular double taxation relief and research and development tax credits.

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I wonder if the 0% effective rate includes the banks which have huge losses forward?


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