The Government’s White Papers on spending and receipts revealed a surplus of €25bn for this year, thanks to the Apple back tax windfall of €14bn and higher-than-expected corporation tax revenue. The Department of Finance published the document, offering a final overview of revenue and spending prior to budget negotiations. Total tax revenue for the year is projected to reach €105bn, with corporation tax alone amounting to €29.5bn – a whopping €5bn more than anticipated. These figures don’t factor in budget adjustments, but still forecast a surplus of nearly €12bn for 2025.
This fiscal news highlights the Government’s strong financial position and economic resilience, setting the stage for strategic budget allocations and investments in key sectors. Despite global uncertainties, Ireland’s robust tax base and corporate contributions have bolstered the country’s financial health, paving the way for continued growth and stability in the years ahead. With prudent fiscal management and effective policy decisions, Ireland is well-positioned to navigate potential challenges and secure a prosperous future for its citizens.
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