undefined | Strong economy boosts tax receipts 3.4% in Q1 The strong Irish economy delivered a 3.4 % rise in tax receipts during the first quarter of 2026 compared with the same period in 2025. Income tax collections jumped 6.1 % to €8.7 billion, signalling a healthy jobs market, while VAT – which includes taxes on fuel – rose 5.3 % to €8 billion. Corporate tax earnings slipped slightly, falling 3.1 % to €2.9 billion, and excise revenue dropped 1.2 % to €1.5 billion after last month’s cuts to petrol and diesel duties. Overall tax receipts amounted to €22.6 billion in the quarter; when one‑off Apple payments are excluded from the 2025 figures, the amount collected this year is €700 million higher than a year earlier. Despite the higher receipts, the exchequer posted a €1.2 billion deficit in Q1, largely driven by transfers to the State’s long‑term savings vehicles – the Future Ireland Fund and the Infrastructure, Climate and Nature Fund. Government spending reached €26.4 billion, 6.4 % above the same period last year but 1.6 % below the Department of Finance’s forecast, prompting the Irish Fiscal Advisory Council to warn that Ireland’s spending growth is outpacing that of other EU countries. Read more: undefined #business #irish #exchequer #futureirelandfund #infrastructureclimatenaturefund