Tax revenues solid in Q1; expenditure delivering on Budget 2026 approach – Tánaiste Simon Harris & Minister Jack Chambers
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Ó: An Roinn Airgeadais; An Roinn Caiteachais Phoiblí, Bonneagair, Athchóiriúcháin Seirbhíse Poiblí agus Digitiúcháin
- Foilsithe: 7 Aibreán 2026
- An t-eolas is déanaí: 7 Aibreán 2026
- Tax revenues in the first quarter of the year amounted to €22.6 billion, up by 3.4 per cent on 2025.
- Of this:
- Income tax receipts amounted to €8.7 billion, up by €0.5 billion (6.1 per cent);
- Corporation tax receipts of €2.9 billion, down slightly, by €0.1 billion (3.1 per cent);
- VAT receipts of €8.0 billion were €0.4 billion (5.3 per cent) ahead of last year.
- Excise duty receipts of €1.5 billion were collected in the quarter. This is slightly down on last year by €18 million (1.2 per cent).
- Total gross voted expenditure in the quarter amounted to €26.4 billion, €1.6 billion (6.4per cent) ahead of last year.
An Exchequer deficit of €0.2 billion was recorded in the first quarter of the year.
Government continues to build up its fiscal buffers, and has already transferred €18bn to the Future Ireland Fund (FIF) and Infrastructure, Climate and Nature Fund (ICNF).
The Exchequer deficit, a deterioration of €1.2 billion on last year, incorporates the latest transfer to the funds of €1.6 billion in January 2026.
On the revenue side total tax receipts for the first three months of the year amounted to €22.6 billion, a €0.7 billion (3.4 per cent) increase on 2025.
Income tax receipts in the period of €8.7 billion were ahead of last year by €0.5 billion (6.1 per cent). VAT receipts of €8.0 billion were €0.4 billion (5.3 per cent) up on 2025.
Corporation tax in Q1 was down marginally (by €0.1 billion) on the same period last year. However, Q1 is one of the less significant payment periods for this revenue stream.
Total gross voted expenditure amounted to €26.4 billion, €1.6 billion (6.4 per cent) ahead of 2025.
Tánaiste and Minister for Finance, Simon Harris T.D. said:
“All in all, the performance of tax revenues in the first quarter of the year was robust. The continued strength in income tax and VAT is a testament to the fundamental resilience of the Irish economy.
“This is of course a period of profound uncertainty. As a result of this Government’s record of solid management of the public finances, we are in a strong position to respond as needed to protect households and businesses: we demonstrated this two weeks ago by introducing a package of temporary supports to ease the burden of the energy price shock.
The uncertainty in the international environment also underlines the importance of keeping our approach to overall budgetary policy balanced and sustainable. This is the best way to ensure we have the necessary resources to respond swiftly and decisively to future challenges”.
The Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Jack Chambers T.D. said:
“With Budget 2026, the first in this government’s term, the emphasis was put on a renewed economic and fiscal approach – an approach that places the long-term, sustainable development of our country at its heart, and that strives to deliver better outcomes for all.
“Global economic uncertainty has increased the need for a real and renewed focus on reform and the identification and generation of efficiencies across our public services. This is critical to ensure we constantly improve how we deliver services, support households around the country and ensure maximum value on every cent of taxpayers’ money Government invests.”
ENDS
Analytical Exchequer Statement March 2026
Notes to editors:
Unless stated, all figures in this press release exclude the impact of the Court of Justice of the European Union (CJEU) ruling of 2024.
In 2025 €3.3 billion was received (€1.7 billion in corporation tax receipts and €1.6 billion in non-tax revenues) in the first half of the year.