First 3bn of Apple Tax money has hit Irish State coffers

The recent surge in corporation tax receipts, particularly boosted by the €14.1bn Apple Tax award, positions it to potentially exceed income tax as the primary revenue source.

Since October, corporation tax collections have soared to €21.4bn, fueled by significant contributions like the €3bn from Apple, indicating a pivotal shift in revenue streams.

Although income tax remains strong, with €27.6bn collected so far this year, the unprecedented levels of corporation tax, specifically from the Apple funds, may challenge its dominance.

The overall exchequer surplus of €3.3bn highlights both the fiscal health of the State and the implications of rising corporation tax revenues amidst increased government spending.

Read at Irish Independent