Irish tax take up 15% year-to-date as Apple back taxes roll in
DUBLIN, Nov 5 (Reuters) -Ireland collected 14.9% more tax in the first 10 months of the year than in the same period in 2023 as the first portion of a 14 billion euro back-tax windfall boosted already healthy revenues, the finance ministry said on Tuesday.
Ireland is due to draw down the Apple AAPL.O. back taxes from an escrow account over the next few months following a European Court of Justice ruling in September that its favourable tax treatment of the iPhone maker had been unlawful.
The finance ministry said it collected 3.6 billion euros of corporate tax last month, some 3 billion euros of which was from the escrow account. Stripping that out, corporate receipts were down on the 1.3 billion euros received in October 2023.
Ireland expects to bank 8 billion euros of the Apple back taxes this year, pushing its overall tax take 20% higher year-on-year, and this year's budget surplus to 7.5% of national income.
Reporting by Padraic Halpin
Editing by Christina Fincher
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