Ireland fell slightly behind its tax revenue target for 2018 at the end of August after it collected 0.3% less than planned due to underperformance in three of the four main tax categories.

While surging corporate tax receipts were 6.8% ahead of target in the first eight months, income tax and value-added tax, the two largest tax categories, fell 0.2% and 0.9% below target. Excise duty was also 6.7% behind target at the end of August.

The total tax take, however, was still 5.1% up year-on-year, thanks to Ireland's booming economy.

Expenditure was 0.7% behind where the government had estimated to record an exchequer deficit of 1.8 billion euros. The government expects to run a deficit of 0.2% of economic output this year, although the central bank has urged it to be more prudent and target a surplus. (Reuters)

Source: www.businessworld.ie