The Irish Exchequer has reported a significant rise in tax revenue for the first four months of 2025, with receipts up 15.3% compared to the same period last year, according to figures released by the Department of Finance today.
Total tax collected by the end of April reached €28.6 billion, boosted by one-off receipts from the Apple tax case. Excluding these exceptional funds, the underlying tax take stood at €26.8 billion — representing an 8.3% year-on-year increase.
Income tax receipts, which make up a significant portion of overall revenue, rose by 7.5% in April alone, reaching €3.5 billion. Cumulative income tax for the year so far remains robust, indicating strong employment and wage activity, particularly at higher income levels.
Peter Vale, Tax Partner at Grant Thornton Ireland, said the strong April figures were encouraging after a softer March performance. “Income tax receipts are often higher in April due to one-off employee remuneration such as bonuses. These latest figures suggest there is little downward pressure on higher-level pay, although many of these bonuses were likely set before the global trade slowdown,” he said.
Excise duty also saw a notable increase, with receipts up 13.2% in April to €0.6 billion. Cumulatively, excise revenue reached €2.1 billion for the year to date, up 8.3% from 2024.
Although April is traditionally a quiet month for VAT, receipts for the year to date were up 6%, totalling €7.9 billion — a sign of resilient consumer spending despite wider economic concerns.
Corporation tax, another key revenue stream, brought in €4.9 billion so far this year. However, April itself saw a drop of €0.1 billion year-on-year, consistent with seasonal patterns. Excluding Apple-related funds, cumulative corporate tax receipts came to €3.2 billion, €0.5 billion higher than the same period in 2024.
Stamp duty and capital gains tax also recorded strong performances, with respective increases of €119 million and €152 million compared to last year.
The Exchequer recorded a surplus of €2.8 billion for the first four months of 2025, a stark contrast to the €1.2 billion deficit seen during the same period last year. Adjusting for the exceptional Apple tax receipts, the underlying balance still showed a reduced deficit of €0.5 billion — a €0.7 billion improvement.
Government spending stood at €35.8 billion to the end of April, comprising €33.1 billion in voted expenditure and €2.7 billion in non-voted outlays.
Mr Vale noted that attention will now turn to corporation tax receipts in May and June to assess any potential fallout from global trade tensions and recent US tariffs.
