In February, corporation tax receipts reached €1 billion, nearly double the previous year's figure. This increase reflects a one-off payment, separate from the €13 billion Apple settlement. Cumulatively, corporation tax receipts stand at €2.8 billion this year, bolstered by Apple's €1.7 billion payment. The Exchequer recorded a surplus of €3.2 billion, a large improvement from last year's deficit, though this is partially inflated by the Apple settlement. Nevertheless, underlying tax growth is strong across categories amid a robust labor market.
The Exchequer recorded an overall surplus of €3.2bn by the end of February, a stark contrast to a deficit of €0.1bn last year, largely influenced by the Apple settlement.
Tax receipts for the year so far total €15.2bn, driven significantly by a one-off payment from Apple that amounted to €1.7bn, indicating how major settlements impact fiscal health.
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