On March 28, 2024, Ireland reported a budget surplus of approximately 7% of its modified gross national income, significantly bolstered by a €14 billion ($14.5 billion) back tax payment from Apple. Following a European court order mandating Apple to pay these back taxes due to illegal tax treatment, Ireland’s general government surplus reached €21.9 billion last year. Initially anticipating only €8 billion in tax receipts from Apple, the actual amount exceeded €11 billion by December, resulting in a remarkable 63.9% increase in corporate tax receipts year-on-year, totaling €39.1 billion for 2024. Despite the surge from Apple funds, the underlying corporate tax revenue of about €28 billion fell short of the €29.5 billion forecast, yet it still surpassed the previous record of €23.8 billion collected in 2023. Over the past decade, Irish corporate tax receipts, largely from U.S. companies, have grown nearly seven-fold, contributing to the nation’s robust public finances—reportedly the strongest in Europe. This financial windfall enabled the Irish government to raise total spending by 9.5% year-on-year, or €9 billion, enhancing public services and investments.
