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• Tax revenues in 2025 amounted to €105.7 billion, up by €8.6 billion (8.9 per cent), on 2024.
• Of this:
  • Income tax receipts amounted to €36.6 billion, up by €1.5 billion (4.3 per cent);
  • Corporation tax receipts of €32.9 billion are up by €4.8 billion (17.2 per cent);
  • VAT receipts of €22.9 billion were €1.1 billion (5.1 per cent) higher.
• Total gross voted expenditure amounted to €109.4 billion, €5.7 billion (5.5 per cent) ahead of 2024 and €0.6 billion (0.5 per cent) behind profile.
• An (underlying) Exchequer surplus of €3.8 billion was recorded last year.

An underlying Exchequer surplus of €3.8 billion was recorded last year.

On the revenue side total underlying tax receipts amounted to €105.7 billion in 2025, an €8.6 billion (8.9 per cent) increase on 2024.

In terms of direct taxes income tax receipts of €36.6 billion are up on the previous year by €1.5 billion (4.3 per cent) reflecting the strength of labour market. Corporation tax receipts amounted to €32.9 billion last year, €4.8 billion (17.2 per cent) ahead of 2024.

In terms of indirect taxes, VAT receipts for the year amounted to €22.9 billion, €1.1 billion (5.1 per cent) higher than 2024, demonstrating the resilience in consumption. Excise receipts were €6.5 billion, up by €0.2 billion (3.0 per cent).

Non-tax revenue in 2025 was €3.5 billion, up by €1.9 billion on 2024, largely driven by transfers to the Exchequer arising from the CJEU judgement (mainly interest payments).

Total gross voted expenditure amounted to €109.4 billion, €5.7 billion (5.5 per cent) ahead of 2024 and €0.6 billion (0.5 per cent) behind profile.

In terms of the bottom line, an underlying Exchequer surplus of €3.8 billion was recorded in the year, an improvement of €2.0 billion on the previous year (the headline surplus was €7.1 billion).

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:

ENDS

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 September last year.

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.

Fiscal Monitor December 2025

Analytical Exchequer Statement December 2025

WASHINGTON, D.C. (January 5, 2026) — America250, the nonpartisan organization charged by Congress to lead the commemoration of the signing of the Declaration of Independence, today announced a partnership with the New York Stock Exchange (NYSE) to support nationwide programs and initiatives that reflect on America’s economic history, civic values, and future aspirations ahead of the nation’s 250th anniversary on July 4, 2026.

For more than two centuries, the New York Stock Exchange — the world’s largest stock exchange — has grown up alongside our nation, with our markets and country evolving together since George Washington was sworn in as our first President at Federal Hall on Wall Street, the site of America’s first capital.

As the nation stands on the cusp of its 250th anniversary, this partnership will highlight the role of entrepreneurship, free markets, and innovation in shaping the American story — while inspiring future generations to participate in the nation’s economic and civic life.

“America250 is honored to partner with the New York Stock Exchange, an institution that reflects the dynamism and enduring strength of the American economy,” said Rosie Rios, Chair of America250. “This partnership will help us tell a more complete story of our nation — one that recognizes how economic participation and innovation have empowered generations of Americans and will continue to shape the next 250 years.”

As part of the collaboration, NYSE will support America250 initiatives that elevate financial literacy, spotlight American companies and workers, and connect historical reflection with forward-looking conversations about economic opportunity.

“For nearly two and a half centuries, the New York Stock Exchange has played a central role in America’s growth, prosperity and evolution,” said Lynn Martin, President, NYSE Group. “As we approach this historic milestone, we are proud to partner with America250 to celebrate the principles that have powered the world’s most dynamic economy — opportunity, resilience and a commitment to innovation — and continue to define our nation.”

The partnership will culminate in NYSE’s participation in major America250 milestones and events throughout 2026, offering Americans meaningful opportunities to reflect on the nation’s past and envision its future.

About America250 America250’s mission is to celebrate and commemorate the 250th anniversary of the signing of the Declaration of Independence, marking America’s Semiquincentennial. We aim to inspire our fellow Americans to reflect on our past, strengthen our love of country, and renew our commitment to the ideals of democracy through programs that educate, engage, and unite us as a nation. America250 will foster shared experiences that spark imagination, showcase the rich tapestry of our American stories, inspire service in our communities, honor the enduring strength, and celebrate the resilience of the United States of America.