No late surge in corporation tax receipts, but November revenues set to calm nerves

Exchequer figures will confirm dramatic falloff in the amount collected from corporation taxes

The Government and economists have signalled the inevitability for some sort of fall in the receipts from 2022 which had boomed from the payments made by pharma giants such as Pfizer and the big tech firms that had chosen to report parts of their global tax revenues and profits in Ireland. 

There will be no late surge in corporation tax revenues this year, but increases in two other major tax sources will reassure the Government its budget plans for 2024 remain on track, the latest exchequer figures published on Tuesday will show.

The figures are keenly anticipated because November is when the Government collects an outsized share of all its annual revenues from just three major tax sources and again throw light on corporation tax receipts, which have have fallen far short of the bounty of 2022.