Booming corporate tax receipts brought in €1.5bn last month

“Corporation tax receipts in October were higher than expected, once again illustrating the inherent unpredictability and volatility of this revenue stream," Minister for Finance, Paschal Donohoe, said. File photo: Gareth Chaney/Collins

The Government is continuing to tap a bounty from booming multinationals as it collected almost a billion euro more than anticipated in corporation tax receipts last month alone. 

The latest Exchequer returns show corporation taxes brought in almost €1.5bn in October, which was €964m more than anticipated, although the returns were boosted by the settlement of tax cases that accounted for €300m of the receipts, the Department of Finance said.