Ireland H1 2026: Stamp Duty, CGT, and CAT Receipts Fall as Property Activity Cools

Ireland's Department of Finance published Exchequer returns for the first half of 2026 on 3 July 2026, showing total tax receipts of €50 billion and an Exchequer surplus of €700 million. While income tax and corporation tax performed in line with forecasts, capital tax headings weakened year-on-year as commercial property and transaction volumes cooled.

For property investors, company shareholders, and estate planners, the H1 capital tax data signals a shift in the revenue mix Finance Minister Simon Harris will carry into Budget 2026 preparations — even as he warned corporation tax remains highly volatile.

Stamp duty receipts for January–June 2026 totalled €819 million — €31 million (3.6%) below the same period in 2025. Capital gains tax collected €409 million, down €60 million (12.8%). Capital acquisitions tax receipts fell €107 million to €161 million, a 40% decline reflecting lower gift and inheritance activity.

RTE's analysis linked the stamp duty shortfall to reduced commercial property transactions. Residential Development Refund Scheme extensions and the new sub-€1 billion market capitalisation stamp duty exemption on share transfers — effective from Budget 2025 — may also affect future stamp duty profiles.

Income tax (€18.6 billion, up 6.7%) and corporation tax (€13.7 billion, up 4.7%) continued to dominate the Exchequer, masking capital tax softness in the headline €50 billion figure.

When excluding the one-off €14 billion Apple back-tax payment received in late 2024, underlying tax revenue grew €2.3 billion (4.8%) — within 1% of Department forecasts. VAT receipts of €12.5 billion rose 7.5%, suggesting consumer spending and employment remain resilient.

Excise duty fell 21.5% in June to €400 million, reflecting temporary fuel excise reductions introduced after Middle East price spikes in February 2026. Harris confirmed a gradual pathway to restore excise rates over time.

Gross voted expenditure reached €54.4 billion, up 6.9% on 2025. AIB chief economist David McNamara noted spending growth continues to outpace underlying tax momentum — a concern the Irish Fiscal Advisory Council has raised separately.

Buoyant income and corporation tax give Harris budget flexibility, but capital tax weakness reduces room for property-linked revenue measures. Revised Entrepreneur Relief's €1.5 million lifetime limit from 1 January 2026 may support SME exit planning even as CGT receipts fall.

The stamp duty exemption for transfers of shares in companies with market capitalisation under €1 billion runs to 31 December 2030 — relevant for growth companies listing on Euronext Dublin and planning secondary share issues.

Multinationals contributing the bulk of corporation tax — three groups accounted for nearly half of Irish corporate tax in 2024 per fiscal watchdog warnings — remain the dominant fiscal risk alongside capital market cyclicality.

Model stamp duty and CGT on planned property disposals and share transfers against H1 receipt trends — transaction timing may affect effective rates where reliefs apply. Estate planners should review CAT thresholds given the sharp H1 decline in acquisitions tax.

SME owners contemplating exits should assess Revised Entrepreneur Relief eligibility under the €1.5 million lifetime cap before disposal. Cross-border groups should reconcile Irish capital tax projections with UK Securities Transfer Tax reforms taking effect from 2027.

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