The Chairman of the Revenue Commissioners has written to the Minister for Finance advising him that this year’s surge in corporation tax receipts has been relatively broad-based and not driven by just one or two companies but that up to €300m of this year’s excess should be excluded from 2016 forecasts.

The Revenue confirms that €1.2bn of this year’s €2bn surplus has come from a number of very large multinational companies with payments of more than €100m.

The letter forecasts that the final corporation tax outturn for 2015 is likely to be relatively unchanged from the current level of surplus, implying that they will come in around latest government estimates of €6.1bn.

Based on information provided by corporations, it expects much of the surplus will reoccur next year - however, up to €300m of the forecast €2bn should not be included in 2016 spending plans.

“We have informed your Department that it is likely that approximately €300 million for the 2015 surplus from these large groups should not be included in the forecast for 2016, for various sector or company-specific reasons,” Mr Cody wrote.

This letter comes to light on the same day that the Fiscal Council has warned that Ireland's 2016 financial plans mark a "deviation from prudent policy."