Overview
- The Exchequer returns, published Tuesday, show €22.6bn in first‑quarter tax receipts, up 3.4% year on year and about €700m higher once last year’s one‑off Apple payment is stripped out.
- Income tax rose 6.1% to €8.7bn and VAT increased about 5.3% to €8.0bn, while corporation tax eased 3.1% to €2.9bn, pointing to a shift in the mix of revenues.
- Excise duty came to €0.5bn in March, up 1.2% as higher fuel prices linked to the war in Iran lifted takings, yet Q1 excise totaled €1.5bn, down 1.2% for the quarter.
- Rates on petrol and diesel were cut on March 25 by 15c and 20c per litre, changes not yet reflected in March data that officials say will lower April receipts and give drivers some price relief.
- A first‑quarter Exchequer deficit was recorded due to transfers into the Future Ireland Fund and the Infrastructure, Climate and Nature Fund, with RTÉ citing €1.2bn and the Irish Independent reporting €0.2bn, while spending reached €26.4bn in gross voted outlays and €29.6bn in total; Finance Minister Simon Harris called revenues robust but warned of global risks.