The Department of Finance and the Department of Public Expenditure, Infrastructure, Public Service Reform and Digitalisation have published the Fiscal Monitor for April 2026 which confirms an exchequer deficit of €4.7 billion in the first four months of 2026. This compares to a surplus of €2.8 billion recorded for the same period last year.
Although the underlying Exchequer balance fell by €4.2 billion (excluding Apple State Aid receipts), this decline is primarily attributable to transfers to the Future Ireland Fund and the Infrastructure, Climate and Nature Fund.
Total tax receipts collected to the end of April were €28 billion. While this represents a €0.6 billion decrease compared with the same period last year, if the once off receipts arising from the Apple case are excluded, total tax receipts were up on last year by €1.1 billion.
Income tax receipts collected to the end of April 2026 were €12.4 billion which was an improvement of €0.7 billion (5.7 percent) on the same period in 2025.
Corporation tax receipts of €0.5 billion were collected in the month of April which was an increase on the same month last year by €0.4 billion. On a cumulative basis, receipts of €3.5 billion were marginally higher than the same period in 2026, by €0.3 billion.
As April is a non- VAT due month, receipts were modest at €0.2 billion, representing a €48 million decrease compared with the same month last year. On a cumulative basis, VAT receipts of €8.3 billion to the end of April are ahead of last year by €0.4 billion.
Commenting on the figures, Tánaiste and Minister for Finance, Simon Harris said:
“Today’s Exchequer returns are encouraging, highlighting Ireland’s economic resilience during a period of deep global uncertainty. Employment is at record levels, and the income tax returns reflect a strong labour market.
Overall tax revenues for April amounted to €5.3 billion, up by almost 8% on the same period last year, reflecting strong income tax, VAT and corporation tax growth for the year to date. These strong revenues provide us with the firepower necessary to support people throughout the coming months”
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