- Tax revenues to end-November amounted to €97 billion, up by €7.3 billion (8.2 per cent), relative to the same period last year.
- Of this:
- Income tax receipts amounted to €33.7 billion, up by €1.5 billion (4.6 per cent);
- Corporation tax receipts of €29.4 billion are up by €3.8 billion (14.9 per cent);
- VAT receipts of €22.5 billion were €1.1 billion (5.0 per cent) higher.
- Total gross voted expenditure to end-November amounted to €97.3 billion, €5.2 billion (5.7 per cent) ahead of the same period last year and just €0.4 billion (0.4 per cent) ahead of profile;
- An (underlying) Exchequer surplus of €7.1 billion was recorded in November, an improvement of €2.8 billion on last year.
- Accompanying today’s release, the Tánaiste is publishing an analytical paper prepared by his Department, entitled ‘Fiscal Vulnerabilities: expanding costs, narrowing base’; the paper documents recent developments and risks to Ireland’s public finances arising from the concentrated nature of key revenue streams.
November is the single most important month of the year for tax collection.
Underlying tax revenues amounted to €97.0 billion in the year to end-November, a €7.3
billion (8.2 per cent) increase on the same period last year. At the time of the Budget, the Department of Finance projected aggregate tax receipts of €104.6 billion for this year; today’s data are in line with this projection.November is a key month for income tax receipts, with the bulk of self-assessed income tax paid. Receipts amounted to €5.1 billion in the month, up by €0.4 billion (7.7 per cent) on last year. On a cumulative basis, receipts of €33.7 billion are up on last year by €1.5 billion (4.6 per cent).
November is the most important month for corporation tax revenues. A total of €10 billion was collected in the month, an annual increase of €2.7 billion (36.2 per cent). On a cumulative basis, corporation tax receipts amounted to €29.4 billion in the year-to-date, €3.8 billion (14.9 per cent) ahead of last year and broadly consistent with the Budget 2026 projections.
November is the final VAT-due month of the year, with receipts of €3.4 billion collected, €0.3 billion (9.3 per cent) ahead of the same month last year. Cumulative VAT receipts of €22.5 billion stand €1.1 billion (5.0 per cent) higher than in the same period of 2024.
Non-tax revenue to end-November was €2.8 billion, up by €1.8 billion on last year, largely driven by transfers to the Exchequer arising from the CJEU judgement (mainly interest payments).
Total gross voted expenditure to end-November amounted to €97.3 billion, €5.2 billion (5.7 per cent) ahead of the same period last year and just €0.4 billion (0.4 per cent) ahead of profile.
In terms of the bottom line, an underlying Exchequer surplus of €7.1 billion was recorded in the year-to-date, an improvement of €2.8 billion on last year (the headline surplus was €10.4 billion).
Tánaiste and Minister for Finance, Simon Harris T.D. said:
“Today’s figures are in line with the revised projections for tax revenue that we set out in Budget 2026: strong income tax and VAT returns reflect the strength and resilience of our economy, while corporation tax remains at an elevated level.
Government is committed to making sure our spending commitments are sustainable and built on solid foundations. We will continue to run budget surpluses and continue to invest in the Future Ireland Fund and the Infrastructure, Climate and Nature Fund.
The Tánaiste added:
“I am also publishing today an assessment – undertaken by my Department – regarding the vulnerability of Ireland’s public finances. In a deeply uncertain time for the global economy, it is more important than ever that we maintain our public finances on a sustainable trajectory.
Government will shortly publish its new medium-term fiscal plan, which will set out how we intend to anchor our spending and tax levels for the period ahead.”
The Minister for Public Expenditure, Public Service Reform and Digitalisation, Jack Chambers said:
“The Exchequer Return figures for November outline this Government’s strong commitment to investment in our public services and infrastructure. The level of spend laid out in Budget 2025 has enabled the delivery of vital services across the country – funding our hospitals, schools and a wide range of social protection supports.
“November sees a sustained level of capital expenditure. While this historic level of funding for infrastructure is vital to allow progress in our country, there is also an urgent need to address the blockages and delays that are hindering project delivery. To build more homes, we need to ensure that our critical growth-enabling infrastructure, particularly water, energy and transport, is allowed to proceed at pace.
“Today my Department published a Report on Accelerating Infrastructure and an accompanying Action Plan, which sets out 30 specific, time-bound measures designed to remove barriers to the efficient delivery of infrastructure in Ireland. These measures will not only transform how critical projects are delivered, but will strengthen the foundations for sustainable growth and prosperity for generations to come.”
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