€1.5 BILLION EURO SURPLUS EXPECTED IN EXCHEQUER FIGURES RELEASED TODAY

It’s expected new exchequer figures due to be released today will show a surplus of €1.5 billion for last year.

It’s understood the surplus is mainly due to higher than forecast levels of corporation tax and employment levels.

Finance Minister Paschal Donohoe says the figures are positive but that corporation tax won’t always be such a reliable source of income for the government in the future.

The so called Double Irish tax loophole is set to end for Google this year which will see the American company move their tax operations back to the US.

n November, Irish Fiscal Advisory Council chairperson Seamus Coffey said that the top-10 payers of corporation tax account for about 45-50% of corporate tax receipts.

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