Tax revenues robust to end-May; continued increased investment in services and infrastructure – Tánaiste Simon Harris & Minister Jack Chambers
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From: Department of Finance; Department of Public Expenditure, Infrastructure, Public Service Reform and Digitalisation
- Published on: 4 June 2026
- Last updated on: 4 June 2026
- Tax revenues to end-May amounted to €38.7 billion, up by 6.1 per cent.
- Of this:
- Income tax receipts amounted to €15.6 billion, up by €1.1 billion (7.5 per cent);
- Corporation tax receipts of €6.2 billion were ahead of last year by €0.5 billion (9.1 per cent).
- VAT receipts of €12.2 billion were €0.8 billion (7.1 per cent) higher than 2025.
- Total gross voted expenditure to end-May amounted to €45 billion, €3 billion (7.2 per cent) ahead of May 2025.
- An Exchequer deficit of €2.3 billion was recorded to end-May. This mostly reflects the transfers to the Future Ireland Fund and Infrastructure, Climate and Nature Fund.
The Tánaiste and Minister for Finance, Simon Harris TD, and the Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Jack Chambers TD, have published the Government’s Exchequer Figures for the end of May.
On the revenue side, total tax receipts to end-May amounted to €38.7 billion, a €2.2 billion (6.1 per cent) increase on 2025.
Income tax receipts in May of €3.2 billion were ahead of last year by €0.4 billion (15.0 per cent). The year-on-year comparison reflects the calendar impact of more pay dates in the May 2026 returns than May 2025. Cumulative income tax receipts of €15.6 billion stand €1.1 billion (7.5 per cent) ahead of 2025.
May is a VAT-due month, with receipts of €4.0 billion collected, up by €0.5 billion (13.0 per cent). On a cumulative basis, VAT receipts of €12.2 billion are €0.8 billion (7.1 per cent) ahead of last year.
May is one of the larger months for corporation tax receipts; receipts of €2.7 billion were €0.2 billion higher than in May 2025. Cumulative corporation tax receipts of €6.2 billion are up by €0.5 billion on last year.
Total gross voted expenditure amounted to €45 billion, €3 billion (7.2 per cent) ahead of 2025.
Announcing the Exchequer returns, Tánaiste and Minister for Finance, Simon Harris T.D. said:
“Today’s Exchequer returns are a further indicator that, despite all the turmoil in the global economic landscape, Ireland’s economy remains remarkably resilient.
“The robust growth in income tax and VAT receipts, in particular, point to the success of this Government’s budgetary strategy, which is supporting households and businesses and protecting jobs in a time of exceptional uncertainty.
“However, we are conscious too that people are worried about the impact of the conflict in the Middle East on their daily lives and their living expenses.
“Over the course of the next few weeks, this Government will put in placing the building blocks for Budget 2027 – a budget that will support working families and ensure people keep more of their hard-earned earnings each month.
“On 15th June Minister Chambers and I will be attending the National Economic Dialogue to hear from stakeholders from across society about their priorities for the Budget and how we can work together to manage this period of uncertainty.”
The Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Jack Chambers T.D. said:
“The gross voted expenditure ceiling of €118.5 billion set for 2026 provides for a significant uplift in investment this year.
“By the end of May gross voted spending reached €45 billion, reflecting increased investment across key areas including health, education, social protection and critical infrastructure. This uplift will support the delivery of our Programme for Government commitments and enable better public services for our people.
“At the same time, while May expenditure shows some moderation in spending with most Departments operating within profile, my Department will continue to work closely with other Departments to ensure expenditure is managed in a planned and sustainable way, delivering value for money for the State.”
