Strong tax returns of €50bn strengthen Government’s budgetary position

Michael Bolton

Another strong month of corporation tax receipts in June has strengthened the Government’s finances ahead of the budget.

Overall, the latest exchequer numbers show the Government took in a total of €50 billion in tax revenue across all headings in the six months to the end of June, up €574 million or 1.2 per cent on the same period last year.

Excise duty tax receipts have dropped by more than one-fifth, as a result of the Government's fuel support scheme.

Figures released by the Department of Finance show excise duty receipts of €0.4 billion were collected last month, down 0.1 billion compared to June 2025.

The total gross voted expenditure to end-June amounted to €54.4 billion, €3.5 billion (6.9 per cent) ahead of the same period last year.

Overall, an exchequer surplus of €0.7 billion was recorded in the first half of the year, significantly below the four point 5 €4.5 billion surplus recorded last year.

The Department says the difference is due to the ongoing impact of the 14 billion euro Apple was ordered to pay Ireland at the end of 2024.

June is a key month for corporation tax receipts, with €7.5 billion collected in the month, up by €0.1 billion (1.3 per cent) on the same month last year.

Tánaiste and Minister for Finance, Simon Harris T.D. said: “Tax receipts in the first half of the year are positive and very much in line with our expectations.

“In terms of the individual tax headings, income tax receipts remain solid reflecting the ongoing strength of the labour market.

“June is always an important month for corporation tax receipts; the tax-take from this revenue stream is very much in line with my Department’s expectations. I would highlight once again, however, that these revenues are highly volatile.

“Earlier this week, the Government confirmed that the temporary excise reductions on fuel will remain in place over the coming months, directly lowering prices at the pump.

"At the same time, we have established a pathway to gradually restore excise duty rates to pre-reduction levels, balancing the need to respond to the challenges of the moment with an approach to overall budgetary policy that remains safe and affordable.

“Today’s figures confirm that we continue to get that balance right.”