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Irish tax revenue up 10% so far this year

Reuters
Irish tax revenue up 10% so far this year

DUBLIN, Nov 4 (Reuters) - Ireland's ‌tax revenue rose 10.3% in the first 10 months of 2026 ​compared ‌to a year earlier, excluding one-off proceeds ‌from a ruling related to Apple back taxes, the finance ministry said on ‌Wednesday.

A surge in corporate tax paid mainly by a small group of US multinationals has helped drive overall tax revenue to ⁠record levels each year since 2021 and ‌handed the government ⁠large budget surpluses to spend and save.

Receipts are ​forecast to grow by another 5% on an underlying basis this year, ​with income tax and VAT returns, ​which ‌were 8% and 7% higher respectively at the ​end of October, also contributing ⁠strongly.

While corporate tax receipts are ‌up 23% so ​far this year ​compared to the same period in 2025, that is partly due to early payments that the finance ministry expect to even ‌out by year-end.

Government spending was up 7.4% year-on-year by the end of last ‌month, ​the data showed, with expenditure on day-to-day services again growing at a faster pace than major planned investments in public infrastructure.

(Reporting by ‌Padraic Halpin; editing by William James)