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Ireland brought in €10.1 billion in tax in January, an increase of €2.3 billion on last year. Alamy Stock Photo

'There are clear risks ahead': Finance Minister says government will invest Apple tax windfall

Minister for Finance Paschal Donohoe said that Ireland is ‘particularly vulnerable’ to changes in the global economic environment.

TAX RECEIPTS IN Ireland amounted to €10.1 billion in January, marking an increase of €2.3 billion on January 2024 – including the once-off receipts arising from the Apple tax ruling. 

Excluding the September 10 Court of Justice of the European Union (CJEU) ruling, which resulted in tax receipts of €1.7 billion, January saw underlying tax revenues of €8.4 billion, up €0.6 billion (7.2%) on January the year prior.

A headline Exchequer surplus of €3.6 billion was recorded in January. Excluding CJEU receipts, the surplus stood at €1.8 billion, down by €0.4 billion on January last year.

Corporation tax in January, excluding figures relating to the Apple tax receipts, was “modest” at €90 million. January is not typically a significant month for corporation tax.

Income tax receipts were up 2.8% at €3 billion, and VAT receipts were up 5.8% at €4.1 billion. 

January’s VAT receipts include the Christmas trading period, making it the strong month of the year for VAT generally. 

Excise duties of €0.5 billion were up by €27 million, or 5.2%, on last year.

Total gross voted expenditure to end-January amounted to €9.2 billion, up by €1.7 billion (22.7%) on January last year.

Minister for Public Expenditure Jack Chambers said that the month’s expenditure figures reflect the introduction of measures outlined in Budget 2025, including increases to social protection rates and increased investment in the health sector.

Minister for Finance Paschal Donohoe said that the expansion of income tax and VAT receipts are a “positive indicator” of the strength of the Irish economy – but “there are clear risks ahead”.

“As a small open economy, Ireland is particularly vulnerable to changes in the global economic environment,” Donohoe continued.

“This underlines the importance of continuing to pursue a balanced and sustainable fiscal policy.

“That is why Government has committed to using the once-off proceeds from the CJEU decision to improve our stock of infrastructure, as well as investing windfall tax revenues in the Future Ireland Fund to prepare for future challenges.”

Donald Trump’s return to office as President of the United States has lead to concerns internationally around trading. 

Earlier this week, Taoiseach Micheál Martin said the European Union needs to “act as one” in responding to any threat of tariffs levied by Trump.

After imposing tariffs on Mexico, Canada and China, Trump said late last week that he “definitely” intends to levy new tariffs on the European Union as well.

Experts have warned that Trump’s tariffs could upset the global economy.

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    Install the app to use these features.
    Mute qffaffaf affrafrfraf
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    Feb 6th 2025, 7:10 PM

    They’re investing it into the 500 new Super Junior ministries for their cronies

    689
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    Mute Johnny Wilson
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    Feb 6th 2025, 8:25 PM

    @qffaffaf affrafrfraf: yawn

    22
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    Mute Lei tatt
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    Feb 6th 2025, 8:35 PM

    @qffaffaf affrafrfraf: economy at risk , lets appoint more junior , super junior and super duper junior ministers on a 200k a year gravy train!

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    Mute Lonely Are the Brave.
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    Feb 6th 2025, 9:38 PM

    @Johnny Wilson: go to bed than,

    305
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    Mute J Cronin
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    Feb 6th 2025, 7:17 PM

    They’ll probably invest in more very expensive bicycle sheds.

    414
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    Mute Lei tatt
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    Feb 6th 2025, 8:37 PM

    @J Cronin: 2million eu printer and security hut

    217
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    Mute Kevin O Brien
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    Feb 6th 2025, 7:27 PM

    Is that the Apple money that FFG spent millions on legal fees trying to take from us

    384
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    Mute Johnny Wilson
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    Feb 6th 2025, 8:26 PM

    @Kevin O Brien: wrong, it was necessary to project jobs and investment

    16
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    Mute Tony Murphy
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    Feb 6th 2025, 9:55 PM

    @Johnny Wilson: yeh right. How many jobs and investments have we lost since the money was drawn down? Nothing that I’ve heard of. Thousands of people goin onto the dole? Haven’t heard anything about that either. You’re talking $ hite.

    165
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    Mute Dan The Man
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    Feb 6th 2025, 7:15 PM

    People hardly thought it would be spent on ordinary Irish people now with FFG in charge. It’ll never see the light of day.

    375
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    Mute Mike Courtney
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    Feb 6th 2025, 7:04 PM

    Invest in yere pensions. Ye couldn’t lie straight in bed.

    370
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    Mute Johnny Wilson
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    Feb 6th 2025, 7:09 PM

    @Mike Courtney: any chance of posting again, this time in sentences that make sense

    36
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    Mute Jp Cleary
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    Feb 6th 2025, 7:15 PM

    @Mike Courtney: This from the chap who wasted God knows how much taxpayers money fighting through the courts not to take this money. Strangley no journalist has asked him was it a good idea to waste all that cash on legal fees.

    348
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    Mute Mike Courtney
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    Feb 6th 2025, 7:18 PM

    @Johnny Wilson: sorry Johnny for not using the Queens English. What a bold boy I am.

    259
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    Mute Sean Hayes
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    Feb 6th 2025, 7:29 PM

    @Jp Cleary: He has been asked loads of times-RTE, Irish Times, Indo etc

    5
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    Mute Derek Poutch
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    Feb 6th 2025, 7:43 PM

    @Jp Cleary: They also claimed we had to share this money with everyone else, also the FFG trolls on here were saying the same.

    223
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    Mute Jp Cleary
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    Feb 6th 2025, 8:17 PM

    @Sean Hayes: what was his response ,

    147
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    Mute Jp Cleary
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    Feb 6th 2025, 9:34 PM

    @Jp Cleary: SEAN ?

    102
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    Mute barbara christopher
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    Feb 6th 2025, 7:11 PM

    Your back pocket won’t make any interest and won’t be a good investment.
    Some of this money needs to be invested in Mental Health because the way you guys are running this country is driving us all insane.

    324
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    Mute Sean Hayes
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    Feb 6th 2025, 7:31 PM

    @barbara christopher: only Journal nut cases- the rest of us enjoying our lives

    13
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    Mute daz Carroll
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    Feb 6th 2025, 7:58 PM

    And still haven’t a clue how to invest or use the money just keep sqandering it as per usual, paying astronomical money for sheds and 70 metre Walls and huts and signage in leinster house,

    202
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    Mute Paddy C
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    Feb 6th 2025, 8:31 PM

    The bike shelter could do with an upgrade, the spire a different longer lasting bulb than the last which was meant to last umpteen time and retrofit the security hut in dail eireann with a jacks pot and burko for instant tea/coffee. Money well spent.

    158
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    Mute Chaotic State
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    Feb 6th 2025, 7:57 PM

    One of the first investments that the government should be making is to ensure the country is prepared for future weather events such as storms, flooding etc
    Every County Council in the Country should get monies to purchase heavy duty generators and a program to cut back forestry near power lines
    Monies should also be made available to improve the Civil Defence to better cope with such emergencies.

    148
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    Mute Johnny Wilson
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    Feb 6th 2025, 8:27 PM

    @Chaotic State: so spend 100s of millions on equipment that is likely to remain unused for decades ?

    11
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    Mute Jp Cleary
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    Feb 6th 2025, 8:55 PM

    @Johnny Wilson: like the voting machines.

    119
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    Mute Gavin Smartr
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    Feb 7th 2025, 7:09 AM

    @Chaotic State: while your use for the money is a good idea please don’t think that county councils need it to do preventative works. They have more money than they know what to do with. Some of the stupid projects they are wasting money on is mind blowing. Local to me they have spent nearly 5 million on a 1km stretch of road to put cycle lanes and have made the road so narrow now that lorries can’t pass each other without rubbing mirrors. And all this on a ring road that was built to take heavy traffic away from the town.

    6
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    Mute Karl Finlay
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    Feb 6th 2025, 7:16 PM

    @Barry Spoon: Yawn !!

    146
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    Mute sam o brien
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    Feb 6th 2025, 8:57 PM

    Invest our “temporary” U.S.C ” too.

    120
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    Mute Damien Leahy
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    Feb 6th 2025, 9:58 PM

    Might get a few more phone pouches out of it.

    105
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    Mute Nestor
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    Feb 6th 2025, 8:39 PM

    Invest the Apple tax windfall fast!

    100
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    Mute Andrew Kenny
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    Feb 6th 2025, 7:18 PM

    F### Israel!

    251
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    Mute Jp Cleary
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    Feb 6th 2025, 9:08 PM

    @Andrew Kenny: Israel leveled the place to the ground. USA supplied most of the munitions to allow them do it….. Let both of them sort it out and tell that Israeli foreign minister to FRO telling us what we have to do.

    132
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    Mute Billy Joe
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    Feb 6th 2025, 10:43 PM

    @Jp Cleary: Hamas started it. Israel will finish the job.

    9
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    Mute Anthony Ross
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    Feb 6th 2025, 7:16 PM

    Stand up to BULLY sex offender Trump

    247
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    Mute Alan
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    Feb 6th 2025, 10:08 PM

    Maybe he could repair the crumbling houses of Donegal

    59
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    Mute Ian
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    Feb 6th 2025, 7:29 PM

    @Barry Spoon: fkn clown.

    110
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    Mute Paul Kavanagh
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    Feb 6th 2025, 7:44 PM

    Houses for asylum seekers?

    38
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    Mute Brian D'Arcy
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    Feb 6th 2025, 7:57 PM

    @Paul Kavanagh: As per usual, blame the onss that no input into our housing crisis by taking attention away from those who have caused it, it obviously makes you feel better to hate than yo actually point to why we have a housing crisis.

    116
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    Mute The next small thing
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    Feb 6th 2025, 8:10 PM

    @Brian D’Arcy: How can you say that increasing demand for housing is having no impact on either housing availability or prices (I would include all immigration into the country whether is work/student visas, asylum applicants, Ukrainians etc)

    29
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    Mute gregory pym
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    Feb 6th 2025, 7:20 PM

    Simon Harris is doing his best to pass off American FDI. As is the opposition with this stupid Occupied Territory Bill. Try solving problems at home before you stir it up abroad.

    48
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    Mute Brian D'Arcy
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    Feb 6th 2025, 8:00 PM

    @gregory pym: Simon Harris is doing his best not to pass the occupied territories bill, just like Martin. What problems do we have here compared to people’s homes having been obliterated?

    159
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    Mute John Purcell
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    Feb 6th 2025, 10:16 PM

    I think one of the biggest issues here is the 27% increase in gov spending. This is not sustainable.

    Everyone has their hand out

    18
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    Mute PhiBo
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    Feb 7th 2025, 2:57 AM

    Is he still the Minister for Finance? Jesus, does nothing ever change in this country?

    17
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    Mute Brian D'Arcy
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    Feb 6th 2025, 7:55 PM

    @Barry Spoon: I don’t know if you read the article but Ireland won’t as Israel created this situation. I’d have them here all day but you’re worried effect your welfare payment.

    16
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    Mute Niall O Shea
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    Feb 7th 2025, 4:03 AM

    They want the Taxpayer to pay the bill for the storm And the ESB are already a profitable company people freezing with the cold and no heat and no power for days the dail on a two week break and our taoiseach out abroad he should have stayed here at home made sure there was a emergency sitting

    12
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    Mute Paul
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    Feb 6th 2025, 7:46 PM

    Lefties want to blow it on the idle classes.

    Luckily Pascal has his head on straight

    14
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    Mute Brian D'Arcy
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    Feb 6th 2025, 7:56 PM

    @Paul: No, we don’t want it wasted on junior and super junior ministers.

    166
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    Mute William Jennings
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    Feb 6th 2025, 9:40 PM

    The Irish government taking the €13 billion it wrung out of Apple, money that should never have been seized in the first place, and “investing” it instead of returning it in the form of tax breaks is a textbook example of shortsighted, anti-business stupidity. Rather than reinforcing Ireland’s status as a global hub for investment, Fine Gael and Fianna Fáil are choosing to pocket the cash like some third-rate bureaucratic pickpockets. Let’s be clear, this money was never Ireland’s to begin with. It was the result of an EU power grab, forcing Ireland to abandon its own tax policy in favor of Brussels’ central planning. If the government had any sense, it would have used that money to give Apple more corporation tax reductions. The money should be going back to the company that earned it.

    9
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    Mute BL Music
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    Feb 7th 2025, 1:16 PM

    Ireland has one of the worlds highest debts according to the CSO. The apple money will not even service the interest on these debts . Pascal knows this but yet he makes it sound like Ireland is financially in great shape .
    This is what politicians have done tip ireland . They FFG have sold the family silver but are pretending to be still polishing it .

    5
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    Mute Lina Stein
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    Feb 7th 2025, 10:10 AM

    Investment in the shocking healthcare especially Cancer care/research and home help for elderly.
    A short to Australia to see a functional health system in place is worth a look at

    2
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    Mute Tony
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    Feb 7th 2025, 10:50 AM

    Hate the way this guy talks down to people. Must be why Meehole likes him so much. Same aloof personality

    3
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    Mute Dan Murphy
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    Feb 7th 2025, 8:00 AM

    Won’t somebody think of the Refugees.

    2
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    Mute I Am
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    Feb 7th 2025, 7:29 PM

    Shur give it all to Hamas linked UNRWA. The 20 million just handed over won’t go far on weapons and tunnels.

    2
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    Mute K O
    Favourite K O
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    Feb 7th 2025, 9:22 AM

    Invest it in the infrastructure of the ESB

    1
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