The State had taken in €4.6bn in corporation tax in 2014, but this had jumped to €6.9bn in 2015. Given that last year, around €1 in every €5 collected in tax came through corporation tax, it all starts to look a bit shaky. About 77pc of that corporation tax came from foreign multinationals, with just 10 companies contributing half of that pot. One worst-case scenario would point to a €6bn hole in the public finances from a sudden shock in corporation tax receipts. If €5bn is our more sustainable corporation tax receipt base, then the State is on track to rake in a cumulative €18bn above that from 2015 and 2019.

Source: Irish Independent October 13, 2019 06:00 UTC