Willie O'Dea (Limerick City, Fianna Fail)
Link to this: Individually | In context

19. To ask the Minister for Finance if he will provide an update on corporation tax revenues to date in 2025; and if he will make a statement on the matter. [27860/25]

Willie O'Dea (Limerick City, Fianna Fail)
Link to this: Individually | In context

78. To ask the Minister for Finance if he will report on income tax revenues to date in 2025; and if he will make a statement on the matter. [27859/25]

Paschal Donohoe (Dublin Central, Fine Gael)
Link to this: Individually | In context

I propose to take Questions Nos. 19 and 78 together.

Income tax receipts to end-April stood at €11.7 billion, an increase of €0.5 billion (c. 4½ per cent) on the same period last year. This is a clear signal of the strength of our labour market. For the year, income tax is projected at €36.7 billion, an increase of 4½ per cent.

Regarding corporation tax, receipts collected in the first four months of the year stood at €4.9 billion, an increase of €2.2 billion on the same period last year. However, over two-thirds of this increase is due to once-off revenues arising from the Court of Justice of the European Union (CJEU) ruling of 10 September 2024.

When these revenues are excluded, corporation tax receipts to end-April amounted to €3.2 billion, an annual increase of €0.5 billion (just over 18 per cent).

While the performance of ‘underlying’ corporate tax has been strong in the year to date, these receipts remain highly concentrated among a small number of firms in a small number of key sectors. This means that the payment by a single large company can have a significant impact on overall tax revenues.

Excluding CJEU revenues, corporation tax receipts this year are projected at €27.6 billion, a modest decline relative to last year.