Where did Ireland's 2015 corporate tax windfall come from?

Revenue has shed some light on the massive increase...

Details have been published by the Revenue Commissioners to ease concerns that Ireland's corporate tax take is dependent on a small group of giant multinational firms.

Corporation taxes surged by close to 50% last year to a record €6.9bn and of that total just over 40% came from ten large multinationals.

Revenue points out that this contribution remained relatively stable, and that the same 80/20 ratio of tax receipts from multinationals versus indigenous Irish firms remained constant despite the huge overall increase in the overall tax take.

They also highlighted a number of reasons why corporation taxes have risen recently, the principal being the improved economy.

16,000 firms who paid no corporation tax prior to 2014, made contributions totalling €500m last year and more than €200m was paid by companies that had been loss-making prior to last year.

The Revenue Commissioners collected €45.79bn from Irish taxpayers in 2015 - this represented a 10.6% increase on 2014 and the fifth successive annual increase in returns to the Exchequer.

Niall Cody, Chairman of the Revenue Commissioners, noted: "In 2015, our staff conducted over 460,000 compliance interventions which yielded over €640 million in tax, interest and penalties – an increase of more than 5% on 2014."