The Exchequer received almost €4.19bn during January, according to the Department of Finance, up 12.3% (€460m) on the same month last year.
More than €1.5bn was taken in Income Tax during the month – which includes the Universal Social Charge – which is up 4% (€58m) year-on-year.
This is despite Budget changes to income taxation coming to effect during the month, with the department saying the figures were consistent with growing employment.
Almost €2bn was received in VAT in January, up 12.9% (€225m) on the same month of last year. These receipts are significantly boosted by Christmas period trading.
Excise Duties of €388m were some 13.4% higher than the same period last year, while the Stamp Duty take, at €72m, was up 37% year-on-year.
Net voted spending in January was €3.9bn, down 5% (€206m) compared with January 2014.
Current spending was down 6.3% (€254m), but capital spending was up 35% (€48m) compared with January 2014, driven by increases at the Departments of Defence; Children and Youth Affairs; and Arts, Heritage and the Gaeltacht.
Debt service costs in the month were €285m, a decrease of €83m (22%) compared to January of last year.
This is mostly due to a reduction in bond interest payments following the maturity of a 4% Treasury Bond in January 2014.
Alan McQuaid from Merrion Stockbrokers said the Government's budgetary strategy had been to "under-promise and over-deliver", which has helped to lower bond yields over time.
"This in our view is set to be the case again this year, which will help to keep yields low as a result," he said.
"The benchmark 10-year bond yield is currently at 1.16% and could easily fall to 1.00% in the coming weeks given the deflationary/easy monetary policy backdrop in Euroland at the moment."
