Too much of Ireland's corporation tax take comes from a handful of companies, posing an "unacceptable level of risk" to the country.

Limits should also be introduced on companies' ability to write off their historic losses against future tax bills.

That is according to a report by the Public Accounts Committee which focuses on a number of issues relating to Ireland's Corporation Tax regime. 

Last year Corporation Tax accounted for 15% of the Exchequer's income. 

Just ten companies contributed more than a third of that, with the vast majority - 70% - made up of tax paid by the top 100 companies operating in Ireland. 

The report recommends the Department of Finance carry out a review and identity ways in which to reduce this over reliance.

Meanwhile, the report also recommends the introduction of limits to companies' abilities to write previous losses off against profits, reducing or potentially eliminating their tax bill altogether. 

This includes Irish banks, which in some cases will be able to avoid corporation tax for 20 years due to the losses they incurred during the financial crisis. 

The PAC report suggests the introduction of a 10 year limit, a sunset clause or other rules in order to restrict this practice. 

Today's report also calls for a review of the shareholding of Real Estate Investment Trusts, which are property leasing firms that enjoy special taxation rules. 

They are exempt from corporation tax, while its shareholders must pay tax in the jurisdiction in which they are based.

This may allow tax to "leak" out the State, according to the report, as many shareholders are not based in Ireland.