Irish H1 tax revenues up 25% year-on-year, surplus grows

DUBLIN (Reuters) – Ireland collected 25% more tax in the first half of the year than the same period in 2021 following another bumper month for corporate and income tax receipts that widened the rolling budget surplus, the finance ministry said on Monday.

The increase was driven again by the corporate tax that is mainly paid by Ireland’s large hub of multinational companies. Corporate receipts rose by 52.9% year-on-year to 8.8 billion euros, making up almost a quarter of all tax collected.

That resulted in a budget surplus of 2.1 billion euros on a 12-month rolling basis at the end of June, up significantly from the 32 million euro posted at the end of May.

(Reporting by Padraic Halpin; Editing by Frank Jack Daniel)