The Department of Finance and the Department of Public Expenditure and Reform have published the Fiscal Monitor for December 2025 confirming an Exchequer surplus of €7.1 billion for 2025. This compares to a surplus of €12.8 billion recorded for 2024, with the year-on-year decline of €5.7 million being impacted by receipts arising from the Court of Justice of the European Union (CJEU) ruling in the Apple State Aid case. When these receipts are excluded from total receipts in 2024 and 2025, an underlying surplus of €3.8 billion was recorded which represents an improvement of €2.0 billion on the same period last year.
Tax receipts collected for 2025 were €107.4 billion for the full year, which was €0.6 billion lower than 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 €105.7 billion, an increase of €8.6 billion on the corresponding period in 2024.
Income tax receipts for the month of December were €2.8 billion, unchanged compared to the same month in 2024. On a year-to-date basis, receipts for the full year of €36.6 billion were up by €1.5 billion (4.3 per cent), when compared to the full year 2024.
Corporation tax receipts of €3.6 billion were collected in December, which is down by €0.5 billion on the same month in 2024. On a cumulative basis, receipts of €34.7 billion were down by €4.4 billion on 2024. When the once-off CJEU receipts are excluded, cumulative corporation tax receipts for the full year amounted to €32.9 billion, higher than the total for 2024 by €4.8 billion.
December is a non-VAT due month and receipts of €0.5 billion were collected in the month with cumulative receipts recorded of €22.9 billion for 2025 which were ahead by €1.1 billion on the total receipts for 2024.
Commenting on the figures, Tánaiste and Minister for Finance, Simon Harris said:
“The Exchequer figures for 2025 are a reflection of the fundamental strength of our economy: income tax and VAT receipts, the clearest indicators of our economic performance, are continuing to perform well, while most other revenue streams are in line with expectations.
As we look towards 2026, this Government is committed to using the resources of the State to improve people’s lives in a sustainable manner. Last month, we published Ireland’s Medium-Term Fiscal and Structural Plan, which represents a fundamental shift in the way we do budgetary policy in Ireland. The Plan fixes the level of spending without restricting us from improving public services, investing in infrastructure and protecting the public finances.”
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