DUBLIN: Tax payments in the first half of the year were some €800 million ahead of target as the total return in the six-month period came in ahead of €20 billion for the first time since 2007 .
Figures released this afternoon by the Department of Finance show that the State collected €20.62 billion in tax between January and June, €2.16 billion more than in the same period last year and €805 million more than foreseen in the budget . An unexpected advance in corporation tax payments accounts for €606 million the improvement over budget-day forecasts for tax receipts.
Overall net voted expenditure in the half year reached €20.42 billion, 1.5 per cent or €304 million below profile and €107 million or 0.5 per cent lower in year-on-year terms.
