Irish Tax Receipts Reach €28 Billion in Four Months Amid Strong Income, VAT, Corporation Tax

Ireland's public finances received a significant boost in the first four months of the year, driven by stronger-than-expected returns in income tax, VAT, and corporation tax, according to the latest exchequer figures. Overall tax receipts for the four-month period rose by 4.2 percent to €28 billion, despite the impact of the Iran war and the subsequent oil price shock.

Cumulatively, income tax generated €12.4 billion, marking a 5.7 percent increase, or €672 million, compared to the same period last year. This growth reflects the robust performance of the labor market, which currently employs a record 2.83 million individuals. VAT receipts for the four months totaled €8.3 billion, an increase of 4.5 percent, or €356 million, over the previous year. While the majority of the Government’s corporate tax revenue is typically collected later in the year, the amount gathered so far reached €3.5 billion, an 8.6 percent rise from the equivalent period last year.

Total tax revenues collected by the end of April amounted to €28 billion, which was €587 million lower than last year on a cumulative basis. However, excluding one-off receipts from the Apple tax ruling in the 2025 figures, total tax receipts actually increased by €1.1 billion, or 4.2 percent, compared to the previous year.

An exchequer deficit of €4.7 billion was recorded for the four-month period, a significant shift from the €2.8 billion surplus reported in the same period last year, representing a €7.5 billion decrease. This year-on-year comparison was notably influenced by the Apple tax case. When these specific revenues are excluded from the 2025 figures, the underlying exchequer balance showed a decline of €4.2 billion. The department attributed this decline largely to the timing of transfers made this year from the exchequer to the Future Ireland Fund and the Infrastructure, Climate and Nature Fund.