Tax Code
Dail Éireann — 2022-02-22
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Paschal Donohoe (FG), Dublin Central

We are just bringing in measures that will increase the corporate tax rate for the largest companies - I am not sure of the turnover of these companies - by 15%. Corporate tax rates will go up. The Deputy will appreciate the challenge involved in doing this. I know he would want them to go up more. One of the reasons corporate tax rates are increasing is it is a challenge to look at how we can find ways in which very large, very complex and, at times, very profitable companies can be taxed more effectively and differently.
I refer to the point the Deputy made about the ESB. The ESB is a semi-State company and, therefore, the profits it makes are returned to the State via dividends. The dividends are used by the State to help fund public services that the Deputy wants to see improved. If a decision is made to reduce that level of profitability in any way, it would have a knock-on effect on other services the Government uses those dividends to pay for. That is the reality of it. As I said earlier, we appreciate the significant pressure that so many people face at present. We know the measures we are bringing forward, for many, will only help, but we are bringing them forward in recognition of the challenges they are facing. They can and, I believe, will help.

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Record URI: https://data.oireachtas.ie/akn/ie/debateRecord/dail/2022-02-22/debate/main
Retrieved: 2026-08-14T04:50:09+00:00
Sitting date: 2022-02-22