Category: Finance

• 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:

The Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Jack Chambers T.D. said:

Tánaiste and Minister for Finance, Simon Harris and Minister for Health Jennifer Carroll MacNeill have today (12 March) announced that individuals will be able to claim tax relief on health expenses for health care provided by pharmacists under the Common Conditions Service.

The Common Conditions Service was launched on 19 January this year and enables community pharmacists to provide advice and offer expanded treatment options to patients for eight common conditions. The Service has been established to support patients with these common conditions, freeing up GP appointments for more complex needs. Over 94% of all community pharmacies in Ireland have signed up to deliver the service by the end of March 2026.

Tax Relief for Health Expenses can be claimed for health expenses incurred by individuals for health care, including for GP visits and for medications/drugs prescribed by a GP. Individuals receive this tax relief at 20%, which is the standard rate of tax. This is a broadly availed of relief, which currently provides a significant level of support to individuals. In 2023, the latest year for which data is available, the cost of tax relief for health expenses was over €223 million and it was availed of by over 700,000 claimants. This tax relief is now being extended to allow individuals to claim for expenses incurred for a consultation with a pharmacist and any medications prescribed by that pharmacist under the Common Conditions Service.

Tánaiste Simon Harris will include the necessary legislative amendments in the Finance Bill later this year, while a Revenue administrative practice will allow taxpayers to claim Tax Relief for Health Expenses for health expenses incurred under the Common Conditions Service in the interim.

Commenting on this, Tánaiste and Minister for Finance, Simon Harris TD, said:

Minister for Health Jennifer Carroll MacNeill commented: