Soaring corporate tax an 'incredible vulnerability' for Irish economy

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.

DUBLIN: 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.