Exchequer Returns: Fall in corporation tax drags down August tax receipts by over 17%

When the revenue generated from the Apple tax case ruling is excluded, an underlying Exchequer deficit of €100m was recorded for the first eight months of the year

The Department of Finance cited an 'exceptionally strong August return' in 2024 as the reason for the significant decline in corporation tax receipts last month. Picture: Stephen Collins /Collins Photos

Corporation tax receipts fell by nearly 43% last month with the Department of Finance saying the reason for the drop-off is that it is being compared to an “exceptionally strong August return” in 2024.

According to the latest Exchequer returns, the Exchequer took in close to €6.2bn in tax receipts during August - down 17.2% from €7.4bn taken in during the same month last year. This was largely due to a €1.6bn drop in corporation tax receipts to €2.1bn.