• Tax revenues to end-August amounted to €66.3 billion, up by just over 6 per cent on last year.
Of this:
- Income tax receipts amounted to €25 billion, up by €1.8 billion (7.7 per cent);
- Corporation tax receipts of €17.8 billion were €1.4 billion (8.3 per cent) higher;
- VAT receipts of €16.3 billion were up by €1.1 billion (7.3 per cent).
- Total gross voted expenditure to end-August amounted to €73.7 billion, €5.1 billion (7.5 per cent) ahead of the same period last year.
- An Exchequer deficit of €1.8 billion was recorded in the period.
Total tax receipts amounted to €66.3 billion to end-August, a €3.9 billion (6.2 per cent) increase relative to the same period last year.
Income tax receipts in August of €3.1 billion were up by €0.2 billion (8.7 per cent). Cumulative income tax receipts of €25 billion were €1.8 billion (7.7 per cent) ahead of last year.
August is not a VAT-due month, with modest receipts of €0.1 billion collected. On a cumulative basis, VAT receipts of €16.3 billion were ahead of last year by €1.1 billion (7.3 per cent).
€2.8 billion was collected in corporation tax in the month, up by €0.7 billion (32.5 per cent) on last year. The spike in receipts underlines the volatility in this revenue stream from month-to-month: last year receipts fell at a similar rate. On a cumulative basis, corporation tax receipts of €17.8 billion are up by €1.4 billion (8.3 per cent) on last year. The cumulative figure includes around €1.2 billion in respect of the 15 per cent ‘top up tax’ for large companies.
Total gross voted expenditure amounted to €73.7 billion, €5.1 billion (7.5 per cent) ahead of 2025.
Overall, an Exchequer deficit of €1.8 billion was recorded to end-August, a deterioration by €1.7 billion on last year.
Tánaiste and Minister for Finance, Simon Harris T.D. said:
“Today’s Exchequer numbers reflect the fundamental strength of our economy and a labour market that has been running at full capacity for the last 4½ years – the longest stretch of ‘full employment’ in the history of the State.
“As we continue to work on Budget 2027, the focus is on getting the balance right. This Government will deliver a Budget that makes work pay, supports business and continues to invest in our public services and infrastructure. At the same time, we will ensure that Budget 2027 keeps our public finances on a sustainable path by continuing to build fiscal buffers and investing in the Future Ireland Fund
The Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Jack Chambers T.D. said:
“Today’s figures demonstrate the significant investment being made in delivering public services and the infrastructure needed for our growing population and economy. Gross voted expenditure reached over €73.7 billion by the end of August, an increase of €5.1 billion, or 7.5% compared with the amount spent this time last year.
Departments will continue to invest through the National Development Plan and ensure that the substantial resources provided by Government translate into better services, stronger infrastructure and more positive outcomes for people across the country.
Preparations for Budget 2027 are now well underway. Building on the progress achieved to date, the Government will continue to invest in high quality public services and essential infrastructure such as housing, energy, water, and transport. To ensure this significant level of investment secures value for money, delivery of efficiencies and reforms will be a key component of Budget discussions. Budget 2027 presents an important opportunity to deliver on our priorities and ensure that public expenditure continues to make a meaningful difference in people's lives.”
