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ARTICLE · 03 OCTOBER 2024

Budget 2025 – The Windfall Budget

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With a record tax revenue to report for 2024 of €105.7 billion (€59.3 billion in 2019), including the corporation tax receipts and receipts from the Apple Windfall, the new Minister for Finance...

IrelandTax
John Cuddigan
John Cuddigan
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Introduction

With a record tax revenue to report for 2024 of €105.7 billion (€59.3 billion in 2019), including the corporation tax receipts and receipts from the Apple Windfall, the new Minister for Finance, Jack Chambers, with this embarrassment of riches sought to balance the need of supporting families in the continuing cost of living crunch with not impacting the rate of inflation, which has despite government interventions continued to fall.

A delicate balance indeed when one is looking at a Budget package of over €10.5 billion being given out in recurring and cost of living once-off measures.

In this Bulletin, we highlight some of the more substantive taxation measures, amounting to just over €1.4 billion, introduced by Budget 2025. Whilst the real detail of many of these changes will be contained in Finance Bill 2024, we have tried to address these measures and what they mean in the following sections.

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