Surging corporation tax boosts State finances ahead of pre-election budget

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Increased revenues likely to ratchet up pressure on newly installed Minister for Finance Jack Chambers in run up to final pre-election budget

Minister for Finance Jack Chambers will come under pressure ahead of pre-election budget. Photograph: Dara Mac Dónaill / The Irish Times

Corporation tax receipts for the year now stand at €12.2 billion, up €1.6 billion on the same period last year. The June receipts generally reflect companies with financial years ending in December which include several big players in the tech sector here, including Google, Meta and Intel. VAT receipts, an indicator of consumer spending, were €11 billion for the six-month period, 6.2 per cent higher than last year.

 

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