- July 5, 2022
- Posted by: Stratford Team
- Category: Economy
The national flag of the Republic of Ireland flies in the Bogside area of Londonderry in Northern Ireland, September 25, 2015. REUTERS/Cathal McNaughton
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DUBLIN, July 4 (Reuters) – Ireland’s reliance on just 10 multinational firms to pay over half of the country’s soaring corporate tax receipts represents an “incredible level of vulnerability” for the economy, the finance ministry’s chief economist warned on Monday.
Corporate receipts, mostly generated from big multinationals attracted to Ireland by its low corporate tax rate, have surged in recent years and made up almost a quarter of all tax revenues in the first half of 2022 after a 53% year-on-year jump. read more
The finance ministry said this meant that 1 in every 8 euros collected by the state comes from “an exceptionally small number of firms” and that a shock which impacted on the multinational sector would have severe fiscal…
