A deficit of €3.7 billion was recorded in the public finances at the end of April, according to the latest figures from the Department of Finance.
This takes account of the transfer of €4 billion to the National Reserve Fund (NRF) in February.
On a rolling 12-month basis, the surplus in the public finances was €2.4 billion.
The Department has also calculated that when an estimate for 'excess' corporation tax, receipts from the sale of shares in AIB and the €4 billion transfer to the NRF are all taken into account, there was an underlying deficit of "approximately €4 billion."
Overall tax revenue was up €3 billion, or 14.2%, to €24.1 billion in the four months to the end of April compared to the same period last year.
This was driven by higher income tax, VAT and corporation tax.
Income tax was €3.1 billion in April, an increase of €339 million or 12.5%, on April last year.
On a cumulative basis, €10.4 billion in income tax was collected to the end of April.
That was €894 million or 9.4% higher than the same period last year.
Corporation tax fell by €91 million in April compared to April 2022 to €308 million.
April isn't considered one of the big months for corporation tax.
Cumulatively, the corporation tax collected in the year to the end of last month is €3.5 billion.
That’s €1.3 billion or 55% ahead of the same period in 2022.
VAT receipts in April were €229 million, up €38 million or 20% on the same month last year.
April is not a VAT due month.
Cumulatively VAT receipts to the end of April are up €968 million or 16% to €7 billion.
"April was another good month for the Exchequer, with no sign of any slowdown in tax receipts. Income tax receipts remain strong, currently running almost 10% ahead of the same period in 2022," said Peter Vale, Tax Partner at Grant Thornton Ireland.
"So far, job losses in the technology sector are not having a negative impact on income tax returns. This is slightly surprising but indicative of the ongoing strength of the labour market."
While Tom Woods, Head of Tax at KPMG, said the data on tax revenue is in line with the revision upwards contained in the recent Stability Programme Update
"While April is a quiet month for corporation tax and VAT, it posted a 12.5% or €339m increase in income tax receipts compared to the same month last year, reflecting the continued strength of the Irish labour market," he said.
