EXCHEQUER RETURNS SHOW the Government took in almost €4.2 billion in tax last month with January revenues €460 million ahead of the same period last year.
Retail sales in the festive period played their part, as the Department of Finance said it received VAT receipts of almost €2 billion – an increase of €225 million or 12.9% compared to last January.
Overall tax receipts were 12.3% higher than January 2014 at €4.19 billion. Income tax was up €58 million and corporation tax was up €49 million compared to January last year.
Net spending, at €3.9 billion, was down 5% and year-on-year reduction in social protection spending means a drop in net current spending of 6.3%.
Local property tax receipts were also up €62 million year-on-year. This considerable increase was expected and is a result of a shift in payment patterns.
There was further good news about Ireland’s finances as the National Treasury Management Agency (NTMA) announced it raised €4 billion today through the sale of a new benchmark treasury bond.
To embed this post, copy the code below on your site
have your say