In the first seven months of the year, €16bn in corporation tax was paid, an increase of €3.5bn compared to the previous year. By the end of July, tax revenue reached €58bn, which is 10.8% higher than last year. The Exchequer surplus rose to €4.1bn, improving by €0.7bn year-on-year. The data indicate that corporation tax is exceptionally volatile, with notable increases even in traditionally lower-yield months. However, reliance on high corporation tax receipts remains precarious given the uncertain global trading landscape.
In the first seven months of the year, €16bn was paid under this tax heading, up €3.5bn on the same period last year.
July is not usually an important month for corporation tax, so the €0.9bn increase on last year was particularly notable.
An Exchequer surplus of €4.1bn was recorded to the end of July, an improvement of €0.7bn compared to last year.
Tax revenue to end July stood at €58bn, €5.6bn, or 10.8pc, ahead of the same period last year.
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