DUBLIN: Ireland tax take was 4.4 percent or over 700 million euros above target at the end of May, data showed on Wednesday, as strong monthly VAT and corporate tax receipts further boosted outperformance so far this year.
Government spending in the first five months was also 1.8 percent or just over 300 million euros lower than anticipated, Ireland’s finance department said.
The exchequer swung into a 641 million euro surplus at the end of May thanks to a number of one-off transactions including a share sale in state-owned permanent tsb. Ireland’s budget deficit is forecast by government to fall below 3 percent of gross domestic product (GDP) this year.
