DUBLIN: The latest Exchequer Returns show that Ireland’s tax take was up 15.9 percent year-on-year at the end of February, driven in part by above-target increases in income tax, corporation tax, and value-added tax (VAT) receipts.
Tax revenue of EUR6.74bn (USD7.51bn) was collected in the first two months of 2015, up EUR925m year-on-year and EUR345m (5.4 percent) above targets. The Exchequer deficit stood at EUR205m, compared with a deficit of EUR1.68bn in the same period in 2014.
Income tax receipts of EUR2.89bn were collected during the two-month period, a year-on-year increase of 6.8 percent (EUR183m). For the month of February, income tax was 7.1 percent (EUR91m) above profile.
VAT receipts of EUR2.89bn were collected in the January to February, 2015, period, up 16.2 percent (EUR330m) on the same period in 2014. February’s VAT receipts were up 11.3 percent (EUR40m) on target.
