It lost €36 milion in 2020.
The value of the Apple tax fund has dropped below €14 billion.
The pot of money contains billions which the tech giant allegedly owes to the Irish state, although this is being disputed in European courts.
The Oireachtas Public Accounts Committee, of which Kildare North Social Democrat TD, Catherine Murphy is deputy chair, was told the fund value fell by €36 million last year.
Comptroller and Auditor General Seamus McCarthy says it is actually doing better than expected.
Value of €14 billion Apple tax fund fell €36 million last year as Ireland awaits decision on whether it should take the money https://t.co/TqPmPVT070— Independent.ie (@Independent_ie) October 7, 2021
Paul O’Donoghue reports from the Public Accounts Committee