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Irish tax take 2.7% ahead of target on fresh corporate tax surge

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12/03/2019 | 07:21 pm
Ireland's tax take was 2.7% or 1.4 billion euros ahead of target for 2019 at the end of November, the finance department said on Tuesday, following another surge in corporate tax receipts it had flagged.

The receipts almost hit a fresh annual high with a month to spare after they were running 16.4% ahead of target at the end of November, the largest collection month of the year when around a quarter of all corporate tax returns are made.

The other three major tax categories - income tax, VAT and excise duties - were all slightly above or below target, cancelling one another out.

Expenditure was 1.4% below the government's forecast at the end of last month, the figures showed, contributing to a budget surplus of 3.35 billion euros, compared with a surplus of 1.9 billion euros a year ago.

Finance Minister Paschal Donohoe said earlier on Tuesday that his department now expected to run a budget surplus of 0.4% this year versus one a 0.2% surplus it forecast a month ago.

(Reporting by Padraic Halpin; Editing by Alison Williams)

Thomson Reuters 2019
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