Noonan: Rise in tax is broad based
Minister for Finance Michael Noonan has confirmed that the massive jump in corporation tax is not confined to large multinationals in the technology and pharma sectors.
In a written Dáil reply to Fianna Fail's Michael McGrath, Mr Noonan said that the increase in corporation tax for this year is broad based and pointed out that "there has been an increase of over 20pc in the number of companies paying between €100,000 and €1m" in corporation tax.
He said: "In addition, there has been an increase of over 20pc in the amount of tax paid by medium-sized companies."
Mr McGrath said that the figures are "hopefully evidence of a broadening of the economic recovery."