Corporate tax receipts have been particularly strong, amounting to €35 billion in the year to date. This represents an extraordinary increase of €13 billion compared to the same period last year, highlighting the robust performance of corporate tax collections.

Value Added Tax (VAT) receipts have also shown growth, with collections rising by €1.3 billion year-on-year. This increase indicates a stronger consumer spending environment and further bolsters the government’s revenue stream.

In total, tax collections for the year have reached nearly €100 billion, marking a major milestone for government finances and reflecting both economic growth and effective tax administration.

Despite the impressive growth in revenue, government spending has surged as well. Expenditure is now almost 12% higher than it was at this time last year and exceeds the initial forecast by 6%. This increased spending underscores the challenges of managing public finances amidst rising costs and expanded government programs.

Nevertheless, the government has recorded a substantial budget surplus of €13.8 billion to date, providing a strong fiscal buffer. This surplus positions the government well to address future economic uncertainties or invest in key public services and infrastructure.