Almost half of Ireland’s corporate tax revenue in 2024 – approximately €13 billion – was paid by just three multinational companies, according to modern research published Thursday by the Irish Fiscal Advisory Council (Ifac).
The findings highlight a growing concentration of Ireland’s tax receipts, with the three companies – two in the technology sector and one pharmaceutical firm – contributing 46% of the total, Ifac stated. This represents a significant increase from 2017 to 2021, when the same three companies accounted for around a third of all corporation tax receipts.
The two largest payers, both technology companies, remitted nearly €11 billion in corporation tax in 2024, representing almost 40% of Ireland’s total take. Corporation tax receipts nearly doubled between 2021 and 2024, even excluding payments related to the Apple tax judgement, Ifac noted.
Ifac warned that this increasing reliance on a small number of companies introduces substantial risk and uncertainty into Ireland’s public finances. Fluctuations in the performance of these three firms could have a significant impact on future revenue streams, the council said.
The concentration of tax revenue within a limited number of corporations has exposed the State’s public finances to “even further risk and uncertainty,” according to the Irish Examiner.
Ifac indicated that all three companies continue to perform strongly, but did not offer further details on their individual contributions or future projections.
