Exchequer returns - February 2025
Commenting on exchequer figures for February, Tom Woods, Partner at KPMG, says:
Tax receipts for February are 21% or €900 million ahead of the same month last year with income tax revenues of €2.7 billion mainly driving the growth in line with a labour market comprising a record 2.8 million workers and an economy at full employment, according to today’s CSO figures.
Corporation Tax receipts of €1 billion also outperformed the same month last year due largely to a one-off corporation tax payment. While today’s figures are encouraging, next month’s exchequer returns will start to provide insight on tax revenue trends for the year ahead.
Notwithstanding Ireland’s current solid economic position, the geopolitical uncertainty is unsettling but it is too early to say how tax receipts will be impacted.
