In the first seven months of the year, €16bn was paid under this tax heading, up €3.5bn on the same period last year, which leaves the State on course to set a new record for annual corporation tax receipts again in 2025, when the one-off Apple back payment is excluded,
The total amount of corporation tax paid to the end of July, excluding the Apple money, amounted to €14.3bn, up by €1.8bn on last year.
July is not usually an important month for corporation tax, so the €0.9bn increase on last year was particularly notable, and one which the Department of Finance said underlines the exceptional volatility now being seen in this tax category on a month-to-month basis.
An Exchequer surplus of €4.1bn was recorded to the end of July. This compares to a surplus of €3.4bn over the same period last year, an improvement of €0.7bn. When Apple receipts are excluded, however, the underlying Exchequer position was a surplus of €0.8bn, which is down €2.5bn on the same period last year.
Today’s News in 90 seconds – 6th August 2025
Tax revenue to end July stood at €58bn, some €5.6bn, or 10.8pc, ahead of the same period last year. When the Apple money is excluded, underlying tax receipts were €56.2bn, up €3.9bn or 7.5pc ahead.
Gross revenue stood at €72.8bn, an increase of €8.9bn compared to the same point in 2024. Non-tax revenue and capital resources for the year stood at €4.6bn, up €2.8bn on last July. This was primarily driven by transfers to the Exchequer arising from the Apple ruling, mainly consisting of EU interest.
The Minister for Finance, Paschal Donohoe, said: “Today’s figures show that in terms of tax revenue we are, broadly speaking, where we expected to be at this point in the year. The clear exception is corporation tax, which, at least for now, is well ahead of last year.
“As I have said many times, we cannot assume these overperformances will continue indefinitely, particularly in the context of a deeply uncertain international trading environment.”
He said that by the end of the year, there will be €16bn invested in two long-term savings funds to help the Exchequer prepare for future challenges.
Total expenditure to the end of last month was €68.7bn. Of this, gross voted expenditure stood at €60.5bn, which was €4.8bn or 8.6pc ahead of the same period last year. It was €0.3bn above profile
Non-voted expenditure accounted for €8.3bn, up by €3.3bn on the same period in 2024. This includes a €3bn transfer to the two long-term savings funds that the Government set up to siphon off ‘windfall’ corporate tax receipts.
Within that sub-heading, gross voted capital expenditure stood at €7.3bn to the end of July, which was 21pc, or €1.3bn, ahead of the same period last year.
The Minister for Public Expenditure, Jack Chambers, said that spending was broadly in line with the amount allocated to departments, and reflected sustained investment in public services and infrastructure.
“However, to effectively manage overall expenditure for the reminder of the year, it will be important that key spending departments such health, education and housing remain within the agreed allocation for 2025,” he said.
Mr Chambers added that the €7.3bn spent on infrastructure underscored the Government’s commitment to delivery.
Income tax receipts of €2.9bn were collected in July, up by €0.1bn or 1.8pc on the same month last year. On a cumulative basis, receipts to the end of last month stood at €20.3bn, up by €0.8bn or almost 4pc on the same period in 2024.
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