Cormac Devlin (Dún Laoghaire, Fianna Fail)
Link to this: Individually | In context

122. To ask the Minister for Finance how overall tax revenues to date in 2025 compare to the same period last year; and if he will make a statement on the matter. [39248/25]

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

The Exchequer returns for the first half of the year were published at the beginning of this month.

Total tax revenues in the year to date amounted to €49.5 billion, an increase of €4.7 billion or 10½ per cent on the same period last year. About a third of the increase is due to the tax component of the Court of Justice of the European Union (CJEU) ruling of September 10. When these once-off receipts are excluded, total tax revenues of €47.7 billion were up by €3 billion or 6.7 per cent, and broadly in line with expectations for this stage in the year.

The underlying strength of the Irish economy is most clearly reflected in income tax and VAT receipts; income tax receipts of €17.4 billion are up by €0.7 billion or 4.3 per cent on the same period last year and VAT receipts of €11.6 billion are up by €0.6 billion or just under 6 per cent on last year.

However, as has been the case for the last number of years, the stand-out feature of the June Exchequer returns was the sharp monthly swing in corporation tax receipts which - excluding the once-off CJEU revenues - are ahead of the same period last year by €0.9 billion or 7.4 per cent.

Corporation tax receipts, excluding the CJEU proceeds, are up on the same period last year by €0.9 billion or 7.4 per cent and slightly ahead of profile, by around €300 million.

The tax performance in the year so far has been, in the aggregate, broadly in line with profile. Nonetheless, the outlook remains uncertain and vulnerabilities, particularly in respect of the corporation tax base, remain in our public finances. This underlines the importance of maintaining a careful and sensible approach to fiscal management in the coming months and years.