Sharp 45 per cent drop in corporation tax receipts in October

Tax experts say sharp swing in numbers are a cause of concern

Finance Minister Michael McGrath and Public Expenditure Minister Paschal Donohoe

Corporation tax receipts are proving increasingly “volatile” and dropped sharply by 45 per cent in October, it has been confirmed.

According to the latest Exchequer returns, published Friday, the state collected €5.1 billion in tax in October, nearly €1 billion or 16.4 per cent lower than the sum collected in the same month in 2022.

Corporation tax receipts amounted to €1.3 billion last month, which was down €1.05 billion on October 2022.

The three-month downward ...