Irish corporation tax receipts predicted to surpass record €22.6bn in 2023

The Minister for Finance has made a bold prediction that the government will see record corporation tax receipts in the year 2023. This news is welcome for both the government and the economy, as corporation tax is a major contributor to the state’s revenue. With this projected increase, the government will be able to fund more public services and initiatives, while businesses will likely continue to prosper. In this article, we will delve into the details of the Minister’s prediction and explore what it means for businesses and the economy as a whole.


According to Minister for Finance Michael McGrath, Ireland’s corporation tax receipts for 2023 are set to exceed last year’s record of €22.6 billion. He noted that the contribution of corporation tax to the state’s finances has been exceptional, with €3.239 billion in receipts obtained in the first quarter of this year alone, representing a 70 per cent year-on-year increase. McGrath added that he expects this trend to continue for the rest of 2023, as confirmed by the forthcoming Stability Programme Update. While he warned that receipts from corporation tax would ultimately decline, he cautioned that it is unclear when this will happen due to factors such as the uncertain impact of the OECD’s reforms.


In conclusion, the Minister for Finance’s prediction of record corporation tax receipts in 2023 is certainly promising news for the Irish economy. With a growing international reputation as a hub for tech innovation and a favorable tax system, Ireland is attracting more and more foreign investment. However, it’s important to consider the potential risks and challenges that may arise in the coming years, such as changes in global economic conditions and shifting political priorities. By balancing cautious optimism with proactive measures to promote sustainable growth, Ireland can continue to capitalize on its strengths and build a brighter future for all.