DUBLIN (Reuters) -Ireland collected 1.2 billion euros ($1.4 billion) of corporate tax in July, over three times as much as the same period a year ago in what is usually not a major payment month for
Ireland's Corporate Tax Revenue Surges to Record Levels in July
DUBLIN (Reuters) -Ireland collected 1.2 billion euros ($1.4 billion) of corporate tax in July, over three times as much as the same period a year ago in what is usually not a major payment month for the key tax category, finance ministry data showed on Wednesday.
Ireland has received record levels of tax each year since 2021, mainly due to huge increases in corporate receipts and the jump in July pushed the overall 2025 tax take, excluding one-off Apple back taxes, up 7.5% so far this year.
The finance ministry had expected corporate receipts, which are underpinned by a small number of foreign multinationals, to fall a touch this year but instead they were running 14% or 1.8 billion euros higher at the end of July.
Ireland's huge reliance on tax paid by a cluster of U.S. technology and pharmaceutical firms has made it especially vulnerable to the tariff and tax plans of U.S. President Donald Trump.
Finance Minister Paschal Donohoe has said he believes the amount of corporate tax Ireland collects will stabilise and then begin to decline due to trade and global tax changes, but that it was hard to predict when that would happen.
The corporate tax haul has handed Ireland the healthiest public finances in Europe. Growth of 3.9% in income tax receipts and 4.8% in VAT by the end of July - the other two main tax categories - left a 0.8 billion euro underlying exchequer surplus at the end of July.
($1 = 0.8598 euros)
(Reporting by Padraic HalpinEditing by Mark Potter)
