Home > Ireland > Irish tax take back in line with target after May recovery

Irish tax take back in line with target after May recovery

Written by Robert McHugh, on 6th Jun 2018. Posted in Ireland

article headline

Ireland collected more tax than planned in the first five months of the year after falling behind target in April, data from the finance department showed on Tuesday.

The state collected 20.54 billion euros in tax in the first five months of the year, 0.4% more than planned, after the tax take fell 1.4% behind target at the end of April .

Ireland has consistently beaten its revenue target in recent years, even as it gradually unwinds tax increases introduced during the financial crisis, due to a rapid jobs recovery and the benefits of being a major location for multinational companies.

An exchequer deficit of 24 million euros was recorded in the five months to the end of May, compared with a 383 million-euro surplus in the same period last year.

Expenditure, which has been boosted to meet the demands of the growing economy, was 1.3% below government plans for the period, the finance ministry said. (Reuters)

Source: www.businessworld.ie

More articles from Ireland

image Description

Taoiseach says UK cannot renegotiate parts of Brexit deal

Read more
image Description

Dublin ranked top city in the world for foreign direct investment

Read more
image Description

Women in Business Network Awards 2018

Read more
image Description

Irish consumer sentiment improves as Brexit worries ease

Read more