Tax take to end of July up 7.5% on same time last year
The latest Exchequer Returns show that so far this year, €56.2bn in tax receipts were collected, an increase of €3.9bn on the first seven months of 2024.
All the major tax categories recorded growth last month, reflecting strong economic growth despite the concerns over the impact of tariffs.
When the once-off tax receipts arising from the Court of Justice of the European Union on the Apple tax are excluded, the tax revenue so far this year stands at €58bn, which is €5.6bn or 10.8% higher than the end of July 2024.
€20.3bn of the total came from income tax, which was 3.9% higher than what was collected in the first seven months of last year.
July is not a key month for corporation tax, but excluding the Apple payment, corporation tax take for the year to date is well ahead of last year, up by 14.1% to €14.3bn.
The figure represents an increase of €1.8bn on the number at the end of July 2024.
July is an important month for VAT returns.
The latest Exchequer Returns show receipts of €3.3bn were collected last month, €46m or 1.4% ahead of the same month last year.
It takes the total VAT revenue for the year so far to €14.8bn, which is €0.7bn or 4.8% up on 2024.
Total gross voted expenditure to the end-July amounted to €60.5bn, which is €4.8bn or 8.6% ahead of the same period last year.
The spending is €0.3bn or 0.6% ahead of projections.
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a day ago
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