Almost €60 billion in tax revenue for July
Total tax revenue to the end of July amounted to €59.6 billion, which was a €3.4 billion increase when compared to the same period last year.
When it came to income tax specifically, the receipts in July were €33.3 billion, which was an increase of €0.4 billion. This represents an increase of 12.7%.
As July is a VAT-due month, the Government collected receipts of €3.8 billion, which is up by €0.6 billion, equating to 17.5%. The Government say that cumulative income tax receipts of €16.3 billion were €1.4 billion ahead of last year.
In terms of corporation tax, €1.3 billion was collected in July, which was up by €0.1 billion or 5.1% compared to last year. The Government say that corporation tax receipts of €15.0 billion are up by €0.7 billion compared to last year.
When it came to expenditure, total gross voted expenditure amounted to €64.9 billion, up by €4.5 billion ahead of 2025.
Tánaiste and Minister for Finance, Simon Harris T.D. said:
“Today’s figures are further evidence of the resilience of our economy. In particular, I welcome the strong growth in income tax, which reflects a labour market that is running at full employment despite all the external challenges we are facing. In a deeply uncertain world, it is more important than ever that we maintain a sensible and sustainable approach to fiscal policy.
”Last month, Government published its Summer Economic Statement, which set out the parameters for the forthcoming Budget. Budget 2027 will strike a careful balance: we will deliver a package that will help workers keep more of their earnings, while continuing to invest in our public services and critical infrastructure.
“At the same time, we will reinforce our resilience by running surpluses and investing in our sovereign wealth fund, as well as saving in the Infrastructure, Climate and Nature Fund.”
The Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Jack Chambers T.D. said: “Government is investing significant additional resources across our public services. The figures published in today’s fiscal monitor underline the increased investment in services and infrastructure to support a growing population and economy. A focus on reform, efficiency and value for money is essential to ensure this expenditure is carefully managed, delivers tangible outcomes and represents value for money for the people of Ireland.
“In line with the Summer Economic Statement, Budget 2027 will provide for further investment in public services and infrastructure within a sustainable overall expenditure framework. Our priority will be to translate that investment into real and lasting improvements for people and communities across the country.”