Tax take jumps 13% this year with August seeing another surge in corporation tax receipts

Healthy tax receipts a month before the budget comes with warnings from advisory bodies about overheating the economy

Minister for Finance Jack Chambers. Total Government expenditure during the first eight months of the year totalled €69.1bn. Pic: Orla Murray

Corporation tax receipts in August doubled compared to last year driving up Government revenue by over 40% to €7.4bn during the month, the latest Exchequer results shows, as preparations for the Budget next month continue.

Last month, corporation tax receipts alone increased by €1.9bn to €3.7bn - a 108.7% increase. The Department of Finance said the bulk of this monthly growth likely reflects a “timing factor, with the increase offsetting a decline earlier in the year”.