Huge rise in corporation tax revenues help lift lingering concerns on Budget outlook

The figures reflect the strength of the Irish economy and means that the Irish Exchequer is one of the richest in Europe during the cost-of-living crisis.  

Increases across the Big Three tax sources of income, corporation tax, and for Vat payments in a non-payments month, meant the Exchequer collected almost €1bn more in receipts than it did in the same month last year. 

The Government collected a record €7.8bn in tax receipts in June, driven by a huge rise in corporation tax receipts, and helping to lift lingering doubts about the strength of the public finances ahead the Budget.

Increases across the Big Three tax sources of income, corporation tax, and for Vat payments in a non-payments month, meant the Exchequer collected almost €1bn more in receipts than it did in the same month last year.