Comptroller and Auditor General Seamus McCarthy
The Public Accounts Committee.
“Eight out of the 100 companies with the highest taxable income had an effective tax rates of zero, including some which had negative rates, ie instead of paying corporation tax, they received rebates.
A further five had an effective rate of less than 1%
These very low effective rates reflected the use by the companies of significant tax credits and reliefs in particular double taxation relief and research and development tax credits.”
Comptroller and Auditor General Seamus McCarthy, this morning.