Ireland’s Exchequer Surplus Narrows Amidst Shifting Tax Landscape

Ireland’s exchequer surplus decreased to €7.1 billion in 2025, down from €12.8 billion in 2024, a decline of €5.7 billion. This shift is largely attributed to the phasing out of substantial once-off receipts from the Apple tax case, according to recent figures released by the Department of Finance .

Impact of Apple Tax Windfall

The Irish government collected €3.6 billion in corporation tax in December 2025, bringing the total for the year to €34.7 billion. However, 2024 figures were significantly boosted by a one-time payment of over €14 billion from the Apple tax case following a ruling by the Court of Justice of the European Union (CJEU). Excluding these Apple-related receipts, the government recorded corporation tax receipts of just under €33 billion in 2025, representing an increase of over 17% .

Underlying Surplus and Revenue Trends

Excluding the impact of the Apple tax receipts in both years, the Department of Finance reported an underlying surplus of €3.8 billion, an improvement of €2 billion. Total government tax revenue in 2025 reached €107.4 billion, a slight decrease year-on-year. However, excluding CJEU-related proceeds, tax receipts rose by almost 9% to €105.7 billion .

Expenditure and Fund Transfers

Gross government revenue in 2025 totaled €133.3 billion, up 3.2% from 2024. Total government expenditure reached €126.2 billion, with gross voted expenditure rising to €109.4 billion, a 5.5% increase. Non-voted expenditure totaled €16.9 billion, an increase driven by transfers to the Future Ireland Fund and the Infrastructure, Climate and Nature Fund .

Recent Tax Revenue Data (February 2026)

February 2026 saw tax revenues of €5.2 billion, up just under 2% annually. Income tax receipts were over 10% ahead of the same month last year, although corporation tax receipts were 20% below the amount collected in February 2025. VAT receipts were up just under 4% cumulatively, and excise duty receipts were slightly up on the previous year. However, capital gains tax and capital acquisitions tax receipts were down over 21% and €8 million respectively .

Government Perspective

Minister for Finance Simon Harris noted the positive growth in income tax as a reflection of the strength of the Irish economy. He emphasized the importance of maintaining economic resilience through surpluses, transfers to wealth funds, and controlled public spending . The March returns, which include the first significant month for corporation tax payments, are expected to provide a clearer picture of the public finances.

Apple Tax Receipts Timeline

The first €3 billion tranche of the Apple tax money landed in State coffers in October 2024, boosting the Government’s finances. Minister for Finance Jack Chambers anticipated approximately €8 billion of the total €14.1 billion windfall to be received in 2024, with the remainder arriving in 2025 . Ireland recorded an exchequer surplus of €12.8 billion in 2024, an improvement of €11.6 billion on the previous year, largely due to these Apple tax receipts .