{
  "id": 5354719,
  "title": "Corporation tax up 32.5% in August - Dept of Finance",
  "url": "https://urgent.news/2026/09/03/corporation-tax-up-32-5-in-august-dept-of-finance",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-03T15:30:00.000Z",
  "source": {
    "name": "RTE News",
    "slug": "rte-news",
    "url": "https://www.rte.ie/news/business/2026/0903/1590232-exchequer-returns-finance/"
  },
  "original_language": "en",
  "account": "In August, corporation tax payments surged by 32.5% to €2.8 billion compared to the same month last year, partly due to larger multinational corporations being taxed at a higher rate. To date this year, corporation tax revenue has increased by 8.3% to €17.8 billion as income continues to flow in from these large, foreign-owned companies. Companies generating over €750 million in turnover are now subjected to a 15% tax rate instead of the previous 12.5%, resulting in an extra €1.2 billion in tax payments by the end of August. Despite strong revenue from international firms, excise duty saw a significant decline of 17.4%, dropping to €428 million, due to the government's efforts to reduce taxes on petrol and diesel. Overall tax revenue so far this year has risen by 6.2% when excluding one-off payments from Apple's tax case. The strong performance in income tax, up 7.7% to €25 billion, driven by a robust job market, has been a key factor in this upward trend. Consumer spending has also been positive, with VAT increasing by 7.3% to €16.3 billion. Government spending reached €73.7 billion, a 7.5% increase from the previous year. Debt servicing costs decreased by €500 million to €2 billion for the year ending in August.",
  "summary": "Corporation tax payments shot up by 32.5% last month to €2.8 billion when compared to August 2025, partly due to some large multinationals being charged a higher rate of tax.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}