Tax receipts could be up to 2 billion euro higher than the estimated target for 2015.
A report by Goodbody Stockbrokers says strong domestic growth is the main reason the tax take is already ahead of schedule this year.
It says the Government should focus the surplus on capital investment and VAT reductions over the next two years in order to sustain the economic recovery.
Chief Economist at Goodbody Dermot O'Leary says there's already been a tax overshoot in the first quarter and he expects that to continue for the year:
