Tax receipts in the first three months of the year were up 8.9% on the same time last year.
Figures from the Department of Finance show the tax take stood at €21.9 billion at the end of March.
This is excluding a payment of €1.7bn which was part of a settlement made by Apple.
The payment related to the Court of Justice of the European Union judgment which said the iPhone maker had to repay €14bn to Ireland in back taxes.
When this payment is included, overall tax take amounted to €23.6bn.
The latest Exchequer Returns show that income tax was up 3.6% on the same period last year to €8.2 billion.
Corporation tax jumped to €4.8bn, up €2.3bn on the same period last year.
However, €1.8bn of this related to a once off payment.
When this was excluded, corporation tax receipts for the three month period amounted to €3bn, up €600 million on the same period last year.
Meanwhile, VAT receipts were up 6.8% to €7.6bn, and Excise Duty receipts were up 6.6% to €1.5bn.
Total spending in the first three months of the year was €27.2bn. Of this, gross voted expenditure stood at €24.8bn, 8.8% ahead of the same period last year.
Non-voted expenditure accounted for €2.4bn, down €200m on the same period in 2024.
Today’s figures show the Exchequer recorded a surplus of €4.1bn to the end of March.
This compared to a surplus of €300m during the same three months last year.
However, when receipts from the CJEU ruling are excluded, the surplus stands at €900m.
Minister for Finance Paschal Donohoe said Ireland has no reason at the moment to change its forecast that tax revenue will rise this year, with any impact from US tariffs on the European Union unlikely to be felt immediately.
Minister Donohoe said it was likely that the impact would first be felt on consumption taxes, with the effect on payroll more medium term, and any hit to corporation tax dependent on what happens in the “global situation.”
“We are not seeing any of those signs and we certainly have no reason at the moment now to change our forecast regarding how much tax we believe we will collect in 2025,” he told a press conference, adding that this would be confirmed in updated forecasts later this month.
He said Ireland’s economy is facing an “exceptionally uncertain” period, following the tariff announcement by US President Donald Trump last night.
“But today’s figures show that, because of the careful management of our public finances, we are approaching the challenges ahead from a position of strength,” he said.
He also said the Department of Finance is still positive about its Corporation Tax outlook following on from last night’s US tariff announcement.
Mr Donohoe described the imposition as a “deeply regrettable moment” and repeated his assertion that up to 80,000 jobs here could be affected in terms of jobs lost and jobs not created.
The minister said an awful lot of uncertainty arises from last’s night announcement, and said the weeks ahead should be used to try negotiate with the US.
Asked when he thought the tariffs would impact on Corporation Tax receipts here, he said that depends on whether they become permanent or whether they can be reduced or removed following any US negotiations.
Article Source – Tax take to end of March up nearly 9% on same period last year – RTE
