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Tax take 2pc above forecast in 4 months

Friday, May 02 17:12:58

Exchequer figures out today covering the four months to the end of April show that the State took in 2pc more in tax than forecast as rising employment saw income tax receipts grow.

The taxman took in a total of E11.557bn in the period - E222m or 2pc ahead of forecasts with income taxes coming in at E5.4bn, E106m more than expected.

VAT receips were 1.4pc under target, however, with a take in of E3.65bn, pointing to the still weak state of consumer spending.

Corporation taxes brought in 297m, some E38m more than expected.

The Local Property Tax brought in E260m, E17m more than had been budgeted for.

The total tax take of E11.557bn compares to the E10.945bn the Exchequer took in during the same period in 2013.

Looking at the month of April, the State took in E1.46bn compared to E1.37bn in April of 2013.

Total taxes received during the month of April amounted to E2.325bn compared to the E2.13bn it received in April of 2013 - a 9.2pc increase.