Paschal Donohoe: 'No reason' to change tax receipt forecasts despite trade war escalation 

Government is sticking to its Budget 2025 forecasts as the first impact of the Trump tariffs will be felt in taxes relating to consumption

Public expenditure minister Jack Chambers and finance minister Paschal Donohoe. Ireland's exchequer surplus grew 4% to €331m during March as higher Vat returns offset a drop in income tax receipts. It brings the quarterly surplus to €4.1bn. Picture: Sam Boal/Collins

The Department of Finance sees no reason to change its forecast on the amount of tax it expects to take in this year despite the US imposing tariffs on EU goods and upending international trading arrangements, finance minister Paschal Donohoe has said.

In its Budget 2025 documents, the Government forecasted revenue of €110bn during 2025 comprising €37.5bn in income tax, €34.25bn in corporation tax, and €22.5bn in Vat.