€700m Tax Windfall As Top 10 Settlements Surge.
New figures released by the Minister for Finance, Mr Simon Harris, show that Ireland’s Revenue Commissioners collected €692.38 million from unpublished tax settlements in 2025, representing a significant 24% increase on the €558 million recorded in 2024.
A notable feature of last year’s returns was the contribution from the ten largest individual settlements, which together generated €240.47 million for the Exchequer; up 43% compared to €168.39 million in 2024. The average settlement among these top cases reached approximately €24 million.
Minister Harris confirmed that detailed breakdowns of these individual settlements cannot be disclosed due to strict taxpayer confidentiality requirements, noting that further information could risk identifying those involved.
Enforcement Activity Intensifies:
The latest data also indicates a marked increase in enforcement activity by Revenue. The number of cases pursued rose to 72,881 in 2025, up from 62,793 the previous year—an increase of over 16%, reflecting enhanced compliance and audit efforts.
Significant Sectoral Contributions:
The composition of settlement yields shifted notably across sectors:
- Scientific research and development emerged as the largest contributor, delivering €139.72 million from 194 cases; a dramatic rise from just €1.2 million in 2024.
- Financial and insurance activities generated €107.82 million, maintaining a strong contribution following €85.26 million in 2024.
- IT and information services saw a substantial increase, contributing €74.19 million—almost three times the previous year’s total.
Other key sectors included:
(1) Public administration and defence: €55.48 million.
(2) Wholesale and retail trade (including motor repairs): €50.36 million, though down from 2024 levels.
(3) Construction: €35.39 million across 10,678 cases, up significantly year-on-year.
The wholesale and retail sector continued to record the highest number of cases, accounting for 14,267 settlements in 2025.
Declines in Some Areas:
Not all sectors recorded growth. The transport and storage sector saw a sharp decline of 69%, with settlements falling to €11.5 million. Meanwhile, arts, entertainment and recreation dropped to €12.12 million from €42.9 million in 2024.
Compliance Incentives Remain Key:
Revenue continues to encourage voluntary disclosure, with taxpayers who come forward typically benefiting from reduced penalties and avoiding publication or prosecution.
Overall Trend:
The latest figures point to a combination of increased enforcement activity and higher-value settlements, particularly in knowledge-intensive sectors, driving a strong rise in overall receipts from unpublished tax settlements in 2025.
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