Corporation tax receipts running over 23% higher than last year

In the first 10 months of the year, €23.9bn was taken in

On a cumulative basis, income tax receipts of €31.1bn have been taken in this year, up 8.4%. File picture

Corporation tax receipts are running over 23% higher this year compared to last year, with October alone taking in over €1.2bn — a 10% increase year-on-year — buffering against a reduction in Vat receipts due to planned repayments.

According to the latest exchequer returns for October, in the first 10 months of the year, €23.9bn in corporation tax was taken in — up €4.5bn or 23.4% year-on-year. 

Of this, €1.2bn was taken in last month, an increase of 9.7%.

Income tax receipts of €3.3bn were collected in October, up 13.6%. 

On a cumulative basis, income tax receipts of €31.1bn have been taken in this year, up 8.4%.

October is a non-Vat due month, with exchequer recording just €4m in receipts — a significant decrease from the €296m recorded last year. 

The exchequer said the decline is primarily related to a “technical factor whereby receipts were withheld to fund potential repayment”.

So far in 2026, the total Vat receipts collected amounted to €20.5bn, ahead of last year by €1.4bn or 7.3%.

In October, excise duty receipts totalling €558m was taken in — down just 0.5% year-on-year. 

Excise receipts of €4.9bn have been collected up to the end of October, down €403m, which likely reflects the temporary reductions on excise on fuel introduced by the Government.

Stamp duty receipts of €1.6bn were collected up to the end October, down by €19m, capital gains tax receipts stood at €696m, flat compared to last year, and capital acquisitions tax amounted to €448m in the year, down by €205m.

Motor tax receipts have amounted to €807m, while customs receipts were up €70m to €573m.

Overall, the exchequer recorded a deficit of €3.1bn during the first 10 months of the year, this compares to a deficit of €900m last year representing a deterioration of €2.2bn. 

However, the year-on-year comparison is distorted by the revenues arising from the Apple tax case.

When these revenues are excluded from 2025, an improvement of €1.1bn was recorded in the underlying exchequer balance — largely due to strong growth in tax revenues.

Total tax revenue generated between January and October stood at €85bn — which is €6.2bn, or 7.9%, higher year-on-year. 

Excluding the Apple tax revenue, tax receipts were up on last year by €7.9bn, 10.3% year-on-year.

Gross revenue for this period stood at €103.9bn, an increase of €4.5bn. 

Appropriations-in-aid, which is other revenue generated by Government departments, stood at €15.4bn, bringing total other revenue to €18.9bn.

Total expenditure as of the end of October stood at €107bn. 

Of this, gross voted expenditure stood at €93.6bn, which was up 7.4% compared to last year. 

Non-voted expenditure accounted for €13.4bn, up by €200m on last year.

So far this year, the exchequer has spent €2.5bn on debt servicing costs — down €400m year-on-year.