Corporate tax receipts rise by €3 billion as multinationals accelerate payments
The government collected an extra €3 billion in corporation tax after several large multinationals made early year-end payments.
Corporate tax revenue jumped by €3 billion after major multinationals front-loaded their year-end liabilities, according to a Department of Finance spokesman. This timing shift means that tax receipts for November and December will be lower than in the previous year. The department has revised its full-year corporation tax projection down to €34 billion, reflecting the delayed arrival of some payments until early next year.
September alone saw €4.9 billion collected, a three-fold increase over the same month last year. Over the first nine months, total business tax receipts rose to €22.7 billion, up €4.4 billion (24 %). Minister for Finance Simon Harris highlighted the strong revenue trend and full-employment economy as key factors.
Why it matters
Early corporate tax payments temporarily boost government revenue, affecting budget forecasts and fiscal planning.
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