Ireland's tax take up 6% to €59.6bn as first 15% global minimum tax payments boost July receipts

Tax revenue rises 6% excluding Apple windfall

Ireland's tax receipts reached €59.6bn in the first seven months of 2026, up €1.6bn or 2.8% on the same period last year. When once-off proceeds from the Apple tax case that boosted last year's figures (€1.726bn) are excluded, the year-to-date tax take was up €3.4bn or nearly 6%. Gross total revenue, including non-tax revenue and capital resources, reached €73.6bn, an increase of €800m year-on-year. The finance ministry said the strong out-turn was driven by income tax, VAT, and the first payments under a new 15% global minimum tax rate for large companies.

July receipts driven by VAT and income tax

July tax receipts totalled €9.6bn, up €1.1bn compared to the same month last year. VAT generated €3.8bn in July, up €600m or 17.5%, the largest monthly increase. The finance ministry noted the VAT figure was flattered by timing issues, and the Irish Independent attributed the bounce partly to a heatwave that kept consumers spending. Income tax receipts hit €3.3bn in July, up €400m or 12.7%, among the highest monthly jumps in 2026.

Corporation tax brought in €1.3bn in July, up €100m or 5.1% year-on-year. However, around €1.1bn of that came from payments under the new 15% top-up rate for larger companies, introduced as part of an overhaul of global tax rules for multinationals. July was the first month payments fell due under the new rules, which apply to profits made after January 2024. Daryl Hanberry, tax and legal partner at Deloitte Ireland, said it was "surprising to see the significant drop in core corporation tax" in the month. Department of Finance officials said the figures were skewed by a large, once-off tax payment last July.

Year-to-date trends

Cumulatively, corporation tax receipts reached €15bn for the seven months to July, up €678m or 4.7% on last year (excluding the Apple windfall). Income tax, the State's biggest revenue-raiser, totalled €21.9bn, up €1.5bn or 7.5%. VAT receipts stood at €16.3bn, up €1.4bn or 9.7%. A reduced VAT rate for food businesses and hairdressers that took effect from 1 July will not be reflected until September.

Separate CSO figures show unemployment remains anchored near a historic low of 5%. Kevin Timoney, chief economist with stockbrokers Davy, said the income tax bump is evidence of "a very strong labour market".

Spending pressures and deficit

Total expenditure stood at €74.2bn, with gross voted expenditure of €64.9bn, up €4.5bn or 7.4% on last year. Current spending was 7.8% ahead, while capital spending was 4.3% ahead. The exchequer was in deficit of €0.6bn by end of July, compared to a surplus of €4.1bn last year. There was a decline of €1.4bn in the underlying exchequer balance due to transfers to two State investment funds.

Overruns in health and education spending totalled over €500m year-to-date, with health €0.4bn over estimate and education €0.1bn over. The Irish Fiscal Advisory Council warned that "sizeable overruns are likely" and said they are "most evident in health." The Government is forecasting departmental budget overruns of €700m this year.

Political response

Tánaiste and Finance Minister Simon Harris said the returns show the need to maintain "a sensible and sustainable approach to fiscal policy".

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.

Minister for Public Expenditure Jack Chambers said the figures "underline the increased investment in services and infrastructure" the government is making. The finance ministry forecast in April a general government surplus of €9.2bn, or 2.5% of modified gross national income, for the year.