News | Latest Breaking News Stories & Headlines

Dublin aerial view with Liffey river and O'Connell bridge during sunset

Real economy to continue to grow this year - Davy

There will be continued strong growth in the real economy between this year and 2027, according to forecasts by stockbroker Davy.

Business • 11 Jul

Exchequer figures showed that the domestic economy seemed to be in good health - but things were less certain in the multinational sector

June Exchequer 'absolutely critical' indicator for tax

This month's Exchequer receipts will be "absolutely critical" to the direction of the State finances this year, according to one tax expert.

Business • 06 Jun

The State's coffers benefitted from a €1.7 billion payment in February, which was part of the Apple settlement

Tax receipts in year to February up 12% on last year

Tax receipts in the first two months of this year are up 12% on the same time in 2024, indicating that the economy continues to power ahead.

Business • 05 Mar

Tax receipts of €59.8 billion were collected for the eight months to the end of August, the latest Exchequer figures show

Tax take in first 8 months 12.6% ahead of last year

New figures from the Department of Finance show that the amount of tax collected by the State in the first eight months of this year rose by 12.6% on the same time last year on the back of higher income tax, corporation tax, VAT and excise duty.

Business • 04 Sep 24

€12.2 billion in corporation tax was collected in the first six months of 2024, up €1.6 billion or 15.4% on the same time last year

Tax take for first half of year up 9% - exchequer figures

The State took in a total of €44.7 billion in tax in the first six months of the year, up more than 9% on the same period last year, the latest exchequer returns show.

Business • 03 Jul 24

Corporation Tax take jumped by more than 30% in May when compared to the same period of last year

Exchequer tax take up 15.9% in May

Tax take for May was €1.43 billion (15.9%) higher than in the same month of last year, according to the Department of Finance.

Business • 06 Jun 24

The Government has published its Stability Programme Update today

Domestic economic outlook for 2024 revised lower

The Government has revised down slightly its projections for growth in the domestic economy this year, but still expects a moderate level of expansion in 2024 and beyond.

Business • 23 Apr 24

Minister Paschal Donohoe and Michael McGrath at a press conference this afternoon

'Era of over-performance of corporate tax coming to end'

Corporation tax receipts of €1.9 billion were collected in March, down by €700m, or 28.6%, on the same month last year, with the Minister for Finance warning that "the era of over-performance of corporate tax is coming to an end".

Business • 04 Apr 24

Finance Minister Michael McGrath says we have to be 'really careful' with what is done with corporation tax receipts.

Cost of international tax reform changes to increase

Minister for Finance Michael McGrath said today that the Government will provide an update of the assessment of what the combined effect of the two pillars of the international tax reform will have on Ireland.

Business • 26 Mar 24

Income from corporation taxes has grown 23% on average each year between 2014 and 2022

Two firms could each be paying 10% of corporation tax

It is "probable" that two or more companies may each be contributing at least 10% or more to Ireland's corporation tax revenue each year, a new report has claimed.

Business • 25 Mar 24

Minister Paschal Donohoe and Michael McGrath at a news conference announcing the figures this afternoon (Pic: RollingNews.ie)

Exchequer surplus falls to €1.2 billion from €5 billion

The Exchequer recorded a surplus of €1.2 billion in 2023, according to figures released by the Department of Finance.

Business • 05 Jan 24

99% of firms here will continue to pay the long-standing 12.5% rate

Corporation tax rate rises to 15% for some large firms

Hundreds of companies here will now be liable to pay 15% corporation tax, as the biggest shake-up in the State's corporate tax system in three decades is implemented.

Business • 01 Jan 24

The CSO notes that corporation tax receipts have almost doubled from €12 billion in 2020 to €23 billion in 2022

€110 billion collected in taxes in 2022, up 17% on 2021

The Exchequer collected €110 billion in 2022 in taxes and PRSI, according to figures from the Central Statistics Office published today.

Business • 22 Nov 23

Corporation tax was just over €1bn lower or 45% less last month than the amount collected in October last year.

Corporation tax take drops for third month in a row

The Exchequer recorded a deficit of €900m at the end of October, the latest figures from the Department of Finance show.

Business • 05 Nov 23

Corporation tax came in at €1.8 billion in September.

Corporation tax take below estimate again in September

Corporation tax in September came in below the Department of Finance's estimate for the second month in a row, according to the latest Exchequer figures published this afternoon.

Business • 03 Oct 23

€242 billion of accumulated corporation tax losses were available for offset against company profits at the end of 2021, the C&AG report for 2022 has round

C&AG: Level of corporation tax losses stable up to 2021

Around €242 billion of accumulated corporation tax losses were available for offset against company profits at the end of 2021.

Business • 29 Sep 23

The Minister for Finance said the expectation is that the change would have neither a positive nor a negative effect on Ireland's corporation tax take.

Plans for participation exemption to corporation tax

The Government has announced plans to introduce changes to how dividend income received from foreign branches of companies with bases in Ireland are taxed here.

Business • 14 Sep 23

Paschal Donohoe said that he and the Minister for Finance are 'on the same page'

Govt committed to safety in public finances - Donohoe

Minister for Public Expenditure has said that potential cuts to the Universal Social Charge in the Budget will be a decision for Minister for Finance Michael McGrath to make.

Business • 11 Sep 23

In August last year, the public finances received a surprise boost in corporation tax.

Corporation tax take in August down €1bn on last year

The amount of corporation tax collected in August was over a billion euro less than the amount taken in the same month last year.

Business • 04 Sep 23

Corporation tax take continued to surge in July, and is 20.7% higher so far this year

Exchequer tax take up 4.6% in July

Almost €6.57 billion in tax was received by the Exchequer in July, up €303m (4.6%) on the same month of last year.

Business • 03 Aug 23

The Tax Strategy Group's report on corporation tax argues the benefits of establishing a long-term public savings vehicle would be two-fold.

Strong case for longer-term savings vehicle

There is a strong case for establishing a longer-term savings vehicle to bridge the gap between today's temporarily strong revenue from corporation profit tax and tomorrow's forecasted permanently strong expenditure requirements.

Business • 18 Jul 23

Corporation tax receipts are still €1.1 billion ahead of where they were at this point last year

Slight fall in corporation tax in May

Corporation tax receipts dropped slightly in May according to the latest exchequer returns, underlining the volatile nature of this source of revenue.

Business • 02 Jun 23

Michael McGrath said a surplus of around €10 billion is forecast for this year

Cabinet to consider plan over corporation tax surplus

Minister for Finance Michael McGrath has said he is planning to bring a proposal to Cabinet on how Ireland should deal with the large corporation tax windfall surpluses forecast to flow into the State.

Politics • 24 May 23

Michael McGrath said the current windfall of corporation tax presents a 'once in a generation' opportunity to make the public finances safer

McGrath says need for wealth fund 'blindingly obvious'

The Minister for Finance Michael McGrath has said it is "blindingly obvious" to him that the Government needs to set up a fund to save some of the billions of euro expected through a windfall of corporation tax in the coming years.

Business • 10 May 23

The 2022 publication is Revenue's 100th annual report and shows that

18,856 home owners pay LPT for first time - Revenue

Revenue has today published its annual report for 2022, which it said reflected a year of strong performance with a record amount of tax and duty collected during the year.

Business • 26 Apr 23