Trump’s plans for US corporate tax a serious threat [Video]

Donald Trump’s calls for a 15% US corporate tax rate could pose a threat to Ireland due to our “outsized reliance” on revenue from small number of American firms, writes Aisling Moloney.

Ireland’s low corporate tax rate is crucial to the economy, but could be under threat due to calls by former US president and Republican nominee Mr Trump for the US rate to match ours at 15%.

Revenue’s 2023 corporate tax receipts show the top ten companies paid 52% of the corporate tax received by Ireland.

The intake from corporate tax has more than doubled since 2019 with €24bn raked in last year, though half of the returns are “windfall” receipts from the few firms at the top.

A large portion of the top ten are understood to be US companies, including Apple, Microsoft, Google and Pfizer.

It is our second-largest tax generator after income tax, accounting for 27% of …