The latest exchequer returns show that corporation tax was down by €1 billion in August, compared to the same month last year.
Paschal Donohoe, the Minister for Public Expenditure, has promised that next month’s budget will contain a cost of living package despite the recent fall in corporation tax revenue.
The windfall corporation tax revenues were used to fund a €12 billion cost of living package in last year’s budget, including electricity credits for households and cuts to excise duty on petrol and diesel.
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