The Chairman of the Revenue Commissioners Niall Cody has warned that the Minister for Finance will have to be prudent and not rely on Corporation Tax to fund State expenditure. Mr Cody told RTE Radio's News at One that Corporation Tax has been “very volatile” and “it does jump.”He said that the Minister for Finance doesn’t want to rely on significant Corporation Tax to fund expenditure. Over the past four years the Top 10 Corporate Tax payers have contributed between 35% to 37%, which has been “fairly consistent” he said. READ MORE Plans for Ireland's first medically supervised injecting centre delayed againMr Cody explained that apart from Corporation Tax a significant portion of PAYE, USC and PRSI was paid by the major companies, €7.9bn out of €18.4bn. The annual report also highlights the success of the Revenue Commissioners in tackling the illicit trade in cigarettes, fuel and drugs.

Source: Irish Examiner May 09, 2019 13:07 UTC