Corporation tax receipts reached €10 billion in November, reports Breaking News.
This marks the highest monthly total ever recorded when the one-off Apple windfall is excluded, coming in €2.7 billion ahead of the same month last year.
Ireland is now on course to collect approximately €32 billion in corporation tax for the full year 2025, delivering another substantial budget surplus for the State, reports Breaking News.
Tánaiste and Minister for Finance Simon Harris told Newstalk that the numbers are positive but cautioned that global economic uncertainty persists.
“I must say, as my first set of exchequer returns, there is much to be encouraged by, strong income tax return, strong VAT return, strong corporation tax returns, the economy in a good place to run on a budget surplus,” he said.”, reports Breaking News.
Mr Harris stressed that the country must keep saving for an uncertain future.
“So today’s exchequer figures show strong income tax return, strong vat returns, and the Irish economy in a good position, but it does also show corporation tax at an elevated level, and therefore my message to people is this, our position as an economy is good, but we also need to make sure that we continue to run budget surpluses and that we continue to place money in funds for future times.”, reports Breaking News.
The figures show that €29.4 billion in corporation tax has been collected so far this year, an increase of €3.8 billion (14.9 per cent) compared with the same period in 2024 once the exceptional Apple receipts are stripped out.
Receipts are forecast to grow further next year when the new OECD-agreed 15 per cent global minimum tax rate for large multinationals comes into effect, reports Breaking News.
November is traditionally the most important month for the exchequer because it is the largest corporation tax payment month and the final VAT-due month of the year.
The latest returns confirm that the public finances also benefited from robust income tax and VAT collections in November, underlining continued strength in employment and consumer spending, reports Breaking News.
On a year-to-date basis, total tax revenue reached €97 billion by the end of November, an increase of €7.3 billion (8.2 per cent) on the same point last year.
Income tax has brought in €33.7 billion, up €1.5 billion (4.6 per cent) on the corresponding period in 2024, while VAT has generated €22.5 billion, an increase of €1.1 billion (5 per cent), reports Breaking News.
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