Daily Sabah logo

Politics
Diplomacy Legislation War On Terror EU Affairs Elections News Analysis
TÜRKİYE
Istanbul Education Investigations Minorities Expat Corner Diaspora
World
Mid-East Europe Americas Asia Pacific Africa Syrian Crisis Islamophobia
Business
Automotive Economy Energy Finance Tourism Tech Defense Transportation News Analysis
Lifestyle
Health Environment Travel Food Fashion Science Religion History Feature Expat Corner
Arts
Cinema Music Events Portrait Reviews Performing Arts
Sports
Football Basketball Motorsports Tennis
Opinion
Columns Op-Ed Reader's Corner Editorial
PHOTO GALLERY
JOBS ABOUT US RSS PRIVACY CONTACT US
© Turkuvaz Haberleşme ve Yayıncılık 2023

Daily Sabah logo

عربي
  • Politics
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • Elections
    • News Analysis
  • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Expat Corner
    • Diaspora
  • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • Islamophobia
  • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
  • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
  • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Reviews
    • Performing Arts
  • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
  • Gallery
  • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
  • TV

Ireland's corporation tax revenues cushion against a hard Brexit

by

DUBLIN Oct 07, 2019 - 12:29 am GMT+3
by Oct 07, 2019 12:29 am

Ireland's corporation tax receipts for 2019 will be around 300 million euros higher than previous estimates, figures released on Saturday showed, giving the country a cushion against any economic slowdown in the event of a hard Brexit.

In a paper published ahead of next week's budget, the government said it expected corporation tax receipts of 10.28 billion euros this year, rising to 10.44 billion euros next year.

The government had estimated receipts of 9.98 billion euros for 2019, and 10.465 billion euros for 2020.

Ireland is heavily dependent on corporation taxes, which have more than doubled since 2012 and now account for around 17.5% of total tax revenues.

The value of the budgetary package to be announced on Oct.8 will be around 2.8 billion euros – 2.1 billion of which has already been pre-committed to areas including planned infrastructure spending and public sector pay.

Ireland will base its budget for 2020 on the assumption that Britain exits the European Union later this month without agreeing a separation deal, setting aside funds for vulnerable sectors, Finance Minister Paschal Donohoe said on Friday.

Ireland had presented two budget strategies for 2020 in June, a preferred option that would have seen its budget surplus grow if its neighbor leaves the EU in an orderly way, and a no-deal scenario forecasting a deficit to absorb the shock of such an outcome.

Donohoe said the Irish economy had performed well in 2019, leaving the government with a budget surplus of more than 600 million euros or around 0.25% of national income, although there had been 450 million euros in overspending by some government departments, including health.

About the author
Research Associate at Center for Islam and Global Affairs (CIGA) at Istanbul Sabahattin Zaim University
  • shortlink copied
  • Last Update: Oct 07, 2019 2:08 am
    RELATED TOPICS
    fight-against-terrorism DEUTSCHE-BANK US-LIBYA-RELATIONS
    KEYWORDS
    business
    The Daily Sabah Newsletter
    Keep up to date with what’s happening in Turkey, it’s region and the world.
    You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    No Image
    Türkiye's Borçka Karagöl Nature Park hosts 410,000 people
    PHOTOGALLERY
    • POLITICS
    • Diplomacy
    • Legislation
    • War On Terror
    • EU Affairs
    • News Analysis
    • TÜRKİYE
    • Istanbul
    • Education
    • Investigations
    • Minorities
    • Diaspora
    • World
    • Mid-East
    • Europe
    • Americas
    • Asia Pacific
    • Africa
    • Syrian Crisis
    • İslamophobia
    • Business
    • Automotive
    • Economy
    • Energy
    • Finance
    • Tourism
    • Tech
    • Defense
    • Transportation
    • News Analysis
    • Lifestyle
    • Health
    • Environment
    • Travel
    • Food
    • Fashion
    • Science
    • Religion
    • History
    • Feature
    • Expat Corner
    • Arts
    • Cinema
    • Music
    • Events
    • Portrait
    • Performing Arts
    • Reviews
    • Sports
    • Football
    • Basketball
    • Motorsports
    • Tennis
    • Opinion
    • Columns
    • Op-Ed
    • Reader's Corner
    • Editorial
    • Photo gallery
    • Jobs
    • privacy
    • about us
    • contact us
    • RSS
    © Turkuvaz Haberleşme ve Yayıncılık 2021