The Department of Finance and the Department of Public Expenditure and Reform have published the Fiscal Monitor for June 2025 confirming an Exchequer surplus of €4.5 billion to the end of June. This compares to a surplus of €3.1 billion recorded for the same period last year.
Tax receipts collected to the end of June were €49.5 billion, which was €4.7 billion higher than the same period in 2024. Excluding the once off receipts from the Court of Justice of the European Union (CJEU) judgement in the Apple State Aid case, total receipts amounted to €47.7 billion, an increase of €3 billion on the corresponding period in 2024.
Income tax receipts for the month of June were €2.9 billion which was €0.1 billion ahead of receipts collected in June 2024. On a year-to-date basis, receipts to the end of June of €17.4 billion were up by €0.7 billion (4.3 per cent), when compared to end of June 2024.
June is considered a significant month for corporation tax payments and receipts of €7.4 billion were collected last month which was an increase of €1.5 billion compared to June 2024. On a cumulative basis, receipts of €14.8 billion represented an increase of €2.6 billion on the same period last year. When the once-off CJEU receipts are excluded, cumulative corporation tax receipts to June 2025 amounted to €13.1 billion, up on the same period last year by €0.9 billion.
VAT receipts collected in the month of €0.2 billion reflecting the fact that June is a non-VAT due month. Cumulative receipts of €11.6 billion were ahead by 5.8 percent on end of June last year.
Commenting on the figures, Minister for Finance, Paschal Donohoe said:
“June is a key month for tax receipts. The steady performance across most revenue streams in the first half of the year is a positive sign of the strength of our economy as we navigate a deeply uncertain period.
Corporation tax receipts in June have seen a sharp increase, which follows a sharp decline last month. This serves as a reminder of the extreme volatility in this revenue stream, and of its inherent unsuitability as a basis for permanent spending commitments”
Commenting on the figures, Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Jack Chambers said:
“Tax revenues are strong. As we prepare for Budget 2026, we need to carefully manage expenditure in the second half of the year, while continuing to commit the necessary resources to improve our public services, support our people and enhance quality of life across our country.”
LOADING...