Economy

Corporation tax receipts recover to top €6 billion in November after three-month decline

Increase of €1.3 billion on last year comes amid ongoing warnings about the tax’s volatility

Michael McGrath, the finance minister, has warned about the volatility of corporation tax receipts

Corporation tax receipts totalled a record €6.3 billion in November, an almost 27 per cent increase on the same period last year, according to the latest exchequer returns.

The increase of €1.3 billion on 2022 follows three consecutive months of decline in the country’s corporate tax take, and comes amid continued warnings over the volatility of the tax which is underpinned by the multinational sector.

In April, the government had projected the total corporation tax ...