Tax returns ahead of target
Irish Tax returns are ahead of target by 7.7 % at the end of the first eight months of the year, still leaving the state’s finances 11.3 billion euro in the red.
Government figures show the tax revenues at the end of August were 365 million euro ahead of profile.
Officials said: “The main driver behind the large reduction is lower non-voted capital expenditure due to settlement of the 2012 IBRC promissory note payment with a Government bond and the fact that July 2011 banking recapitalisation payments increased non-voted capital expenditure significantly last year.”
The figures released have shown that the three big sectors were ahead of target.
It was shown that income tax brought in 102 million euro ahead of profile -with the VAT take €82 million euro ahead.