Cumulative tax receipts up 14.9%

Commenting on today’s Exchequer figures for October, Tom Woods, Head of Tax at KPMG, says:

The performance of tax receipts in the year to date is stellar with cumulative tax receipts up €9.9 billion or 14.9% compared to the same period last year.  While corporation tax receipts for October include the first tranche of €3 billion from Apple, underlying tax receipts are very strong and are on track for another record year. This puts the Exchequer in a favourable position as the country heads into a general election.   To safeguard Ireland’s continued economic success, the next government should deploy the Apple funds to address clear deficits in our national infrastructure.  

The outcome of the US election is undeniably important to Ireland.  However, our standing as a stable and secure location for investment should help mitigate the impact of political uncertainties in the US. Naturally, Ireland's next government must continue efforts to enhance the country's appeal as an investment destination.