The total direct tax arising from the operation of foreign owned multi-national corporations in Ireland in 2015 was €10.5 billion. This was sufficient to pay for total public spending on education and skills and the Garda Síochána.
A key part of Ireland’s economic development strategy is to encourage Foreign Direct Investment. The Revenue Commissioners have released information on the contribution of foreign multi-national corporations in Ireland1.
This shows that net receipts from foreign owned multinational companies accounted for about €5.5 billion or 80 per cent of net corporation tax receipts in 2015. Total net corporation tax receipts were €6.87 billion in 2015.
2,182 foreign owned MNC’s accounted for 336,350 employments2 ( almost 28 percent of employments of companies paying corporation tax). They had average employment of 154 compared to 24 for all other companies.
They paid over €5 billion in PAYE, USC and PRSI.
Their average employment income was €36,750 which is 71 per cent higher than all other companies.
1 An Analysis of 2015 Corporation Tax Returns and 2016 Payments, Revenue Statistics & Economic Research Branch, April, 2017.
2 An employment differs from an employee, as an employee may have more than one employment (e.g changing employment during the year or having a second employment)