Dáil Éireann Debate, Thursday - 22 January 2026
334. Deputy Pearse Doherty asked the Tánaiste and Minister for Finance to clarify the way in which Irish banks are classified for the purposes of corporation tax by ownership in (details supplied); and if he will make a statement on the matter. [5346/26]
View answerFor the purpose of the statistical report on corporation tax, I am advised by Revenue that banks are classified, on a statistical basis, using the NACE code of the company and can be found within the Financial and Insurance services sector. A NACE code (Nomenclature of Economic Activities) is a European classification system that groups organisations according to their business activities.
I am further advised that the multinational ownership classification used in the report is a Revenue statistical marker based on information available to Revenue in respect of the global ultimate owner for a company. A company classified as a bank, according to the NACE code, will in addition be classified as an Irish-owned multinational, according to the Revenue statistical marker, when the company’s Global Ultimate Owner (GUO) is located in Ireland and at least of one of the subsidiaries of this GUO is located outside of Ireland. A company is classified as Domestic, according to the Revenue statistical marker, when the company is part of a group where the GUO is located in Ireland and all subsidiaries under this GUO are located in Ireland or the company is a single entity in Ireland (i.e. not part of a corporate group).
The latest information on corporation tax payments in the Financial and Insurance sector can be found in the 2024 Corporation Tax statistical report available on the Revenue website at: www.revenue.ie/en/corporate/information-about-revenue/statistics/corporation-tax/research-reports/index.aspx
