Tax receipts rise by €700m as households and businesses seek further support measures

State recorded a €200m deficit after transfers to rainy day funds

Tanaiste and Finance Minister Simon Harris: 'We are in a strong position to respond as needed to protect households and businesses

The Minister for Finance, Simon Harris, said robust tax receipts provide a "strong position" to protect households from the impact of the current energy crisis.

Strong income tax and VAT receipts resulted in a 3.4% rise in tax receipts in the first three months of the year, with the government coming under further pressure this week for support packages for households and businesses facing soaring energy costs.

The conflict in the Middle East has seen global energy prices jump again. The data shows excise receipts jumped by €6m in March.

Tax revenues of €22.6bn were collected in the first quarter, down by €1bn on last year. However, when once-off receipts last year from the Apple tax are excluded, total tax receipts were up on last year by €0.7bn.

According to the Department of Finance, income tax receipts of €2.8bn were recorded in March, €0.2bn ahead of March 2025. On a cumulative basis, income tax receipts of €8.7 were €0.5 billion (6.1 per cent) ahead of the first quarter of 2025.

The State took in €2.9bn in corporation taxes in the first quarter, down slightly by €0.1bn on last year.

Income tax receipts of €8.7bn were €0.5bn ahead of the first quarter of 2025. VAT receipts of €8bn are ahead of last year by €0.4bn.

However, an overall exchequer deficit of €200m was recorded in the first quarter, largely due to earlier transfers this year from the Exchequer to the Future Ireland Fund (FIF) and Infrastructure, Climate and Nature Fund (ICNF).

Tánaiste and Minister for Finance, Simon Harris, said the performance of tax revenues in the first quarter of the year was robust. "The continued strength in income tax and VAT is a testament to the fundamental resilience of the Irish economy," he said.

"We are in a strong position to respond as needed to protect households and businesses: we demonstrated this two weeks ago by introducing a package of temporary supports to ease the burden of the energy price shock," he said.