Irish H1 Surplus €700M as Tax Revenue Rises 4.7%

Ireland recorded an Exchequer surplus of €700 million in the first half of 2026, the government reported. Strong income and corporation tax receipts drove the result.

Income tax collected between January and June totaled €18.6 billion, up 6.7% from the same period last year. Corporation tax reached €13.7 billion on a cumulative basis, a 4.7% increase of €600 million. June alone brought in €7.5 billion in corporate tax.

Overall tax revenue for the half-year stood at €50 billion, 1.2% higher than H1 2025. Excluding a one-off Apple tax windfall, underlying tax receipts rose 4.8%, the figures show.

Capital taxes weakened. Stamp duty receipts fell €31 million to €819 million. Capital gains tax dropped €60 million to €409 million. Capital acquisitions tax declined €107 million to €161 million.

On the spending side, gross voted expenditure reached €54.4 billion, up 6.9% from a year earlier and 1% below the government's forecast. Total Exchequer spending, including non-voted items, came to €61.4 billion.

The surplus is modest relative to Ireland's economy. The underlying tax growth, excluding the Apple payment, was 4.8%. Spending is running ahead of last year. It remains within budget targets.

The corporate tax haul includes a one-off Apple windfall, which distorts the comparison. The government now has room for tax cuts or spending increases in the upcoming budget. It also faces pressure to reduce dependence on volatile corporate tax.

Gross voted spending came in 1% below the government's forecast, leaving room for additional outlays later in the year.