Positive results indicate stability: October Exchequer performance ahead of year end

October is typically a quiet month for the Exchequer, as companies prepare to close their financial years and consumers rein in spending after the summer in anticipation of the busy Christmas period.

Corporate tax receipts for October 2025 were almost three times higher compared to the same time last year when you adjust out the artificial inflation resulting from the CJEU ruling. Excluding this inflation, corporate receipts are up €0.7bn year-on-year, a positive outcome that demonstrates stability in the face of ongoing global headwinds.

Income tax receipts were up marginally by €0.2bn, despite the unemployment rate creeping above 5%. These receipts are ahead of last year by €1.1 billion, a positive development as we edge closer to the income tax filing deadline and a likely result of rising wages. 

All eyes will now be on November's returns as these will serve as a key indicator of the Exchequer’s overall fiscal position, with preliminary corporation tax payments for 2025 and income tax returns due during November, and it also being a VAT filing and payment period. These figures will provide an initial glimpse into how tariffs and global uncertainty throughout 2025 have affected corporate and consumer receipts.