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THE EXCHEQUER HAS taken €1.13 billion more tax in the first 11 month of this year than had been predicted in last year’s budget.
The total tax take for the first 11 months of the year was €38.16 billion, nearly €3 billion more than it was in the same period in 2013.
The Department of Finance says the additional income comes from greater than expected receipts in every major form of taxation except the Local Property Tax.
Corporation tax for example totals €4.19 billion so far for 2014, €209 million ahead of estimates. Income tax was the biggest single contributor to the national purse at €15.77 billion in the year to end-November.
The returns for last month show that the Exchequer deficit was €5.76 billion in November, a significant €1.81 billion ahead of what was expected.
Finance Minister Michael Noonan was pleased with the results. ”They’re pretty strong,” the minister said this afternoon.
“November is a pretty important month so they’re around the €6 billion mark, they’re ahead of profile. So far it’s been a very good year for tax and, with 11 months gone, not only are we well ahead of last year’s tax we’re ahead of this year’s budget.”
“The economy is growing, more people are at work and this is reflected in today’s Exchequer figures,” Noonan later in State
The figures also pointed towards improved consumer confidence with VAT results for the year at €10.82 billion, €575 million ahead of last year.
Peter Vale of accountants Grant Thornton say the VAT returns “indicate a cautious return to spending”.
Time to abolish USC now so. Twas a temporary tax wasn’t it?!
Like like we can ditch the USC so. That’s great news.
USC is nearly 5 billion and means everyone pays something.
Yes David but I don’t like it so I want it gone.
Like the water.
We should keep it, there’s too much progressive tax in this country
Absolutely keep it. If all pple paid was 7% there’d be no problem
Nidge didn’t pay it …and did the Gardaí pay the full amount one year or was that a different clerical type error ?
@ David Burke… shut uo you fool.
I don’t need slaughter house Noonan to tell me the tax take is up, I personally feel it.
We have a great economy…and a decimated society..
Man freezes to death in the capital Hundreds on trolleys in hospitals 800 children living in hotels. Yeah it’s been great
Sorry I don’t normally comment on political topics but attitudes like yours bug me. So what about the others that would die on the street this year?
What about every other year?? What have you personally done other than complain? ?? Did you donate to Simon? ? No (even though of course you will reply you did of course ) why not go down to Dublin cork or limerick and pick up a homeless person give them your spare room or even you living room sofa??
Yeah thought so.
Amazing how shocked people are when it suits them.
Sure. It’s great when you have executives, SME’s and independent contractors paying 60% of their profits as tax.
you see Gavin – you are a Paddy – you are not a muli-national in either a business or a personal sense – so you are not really part of plan Europe in Ireland – you just get to vote like the rest of the plebs !
The bondholders will be so pleased.
Soooo…I’m assuming there’s no need for the sham water company then?
Of course it’s been a good year for tax- they’ll be taxing taking a dump next..
IW are doing their pathetic best on that one!
If we keep it up the fat cats in Europe will have their money back sooner! Yay…(!)
Don – the money that they didn’t have in the first place but were let print by Mario Draghi – it only became real when first Brian and then Enda underwrote it without our permission and with our blood
Huge Fine Gael Christmas party so….!
Great but tell me this…. How long am I going to be working 39 hrs a week to be broke every week with no saved income….? Working to exist and not to live, yay
As long as Ansbacher and it’s little babies get to play in the paddling pool of Dail Eireann with your money is the answer….
Welcome to Ireland land of the tax forged in the fires of useless burning politicians who for years couldn’t see beyond the limits of there own parish, enslaved to the European machine due to the inability of leaders who new nothing about leading and were quick to suck the golden teat, which now only dispenses vinegar.
Engulfed in a murky mist of cronyism back handers and closed door policies, a brighter future we were promised those few years ago, but alas the bitter tune of repetition screeches loudly into night, more tax more tax lets tax some more and when there’s nothing left we will still demand more.
Great figures. A true reflection of the success of this government.
I’m afraid not Jason, these things go in circles and we are on an upward curve at the moment regardless of anything they’ve done.
Now if you want to pretend this is anything to do with policy’s of this government your again wrong as the troika had been telling the idiots in Leinster house what policy’s to implement
Have a great evening pal
The Troika! Best government we ever had ?
“In Ireland an initial attempt to reduce public debt from more than 80% of GDP beginning in 1982 met with limited success. Increases in taxes at that time led to weak economic growth and private investment, and public debt failed to fall. But in 1987 the new government again tried to reign in debt, this time by dramatically cutting public spending. This time the policy was successful in reducing public debt, and economic growth for the subsequent three years was 3.7 percent, compared with no growth after the earlier stabilisation attempt.
The Irish and Danish episodes, as well as a number of other successful stabilisations such as in Canada post 1995 and Sweden in the early 1990s present a number of interesting lessons for policymakers today. Firstly, cuts in government spending seem to be more effective than increasing tax rates, both in reducing government deficits and debt levels and in stimulating economic growth. The logic behind this argument is that tax increases tend to reduce private activity, while spending cuts can support stronger consumption and investment.”
http://economics.com.au/?p=5849
Oh please, success from one department. Health will have their hand out for half a billion. Roads are falling apart. Farmers protesting. Teachers on strike. Homeless dying. Army not protecting money in transit. Enviroment has 150,000 protesters, should I go on. Ye, great job by Noonan.
No its not Bulldog Noonan,its a reflection of the huge increase in tax for everybody right across the board.
€1.13 billion more tax in the first 11 month of this year than had been predicted in last year’s budget.
and pi$$ed it right down the jacks financing Irish Water and all its managers.
and CON – SULTANTS
The Shinners are as positive as ever. It’s GOOD news.
Hepatitis Noonan
It’s been a very good year for riding the working poor again.
Fine Gael should get ‘Vaseline’ to sponsor them!
Now, now… Michael Noonan didn’t give those women hepatitis; all he did was ensure that their families felt threatened that they would be financially ruined while waiting for their wives, daughters and mothers to die… All to make sure the government wasn’t financially at risk at the expense of vulnerable people, something I’m sure he has no issue doing again…
Dave Cullen best of luck if the lefties get in – then you’ll be paying more for those who don’t work including for their water and property tax. Educate yourself man on who pays for the public services and how it means less tax for you if direct taxes are introduced which include those people who don’t pay income tax.
Your working late James!
more money for the bondholders
Noonan is a dangerous fing political thug
Sure don’t we have to give the German banks 8 billion this week in interest for somebody eles debt.what a country we live in.sure the good paddy should give them selves a pat on the back.Noonan ure some hamburger.sell out blue shirt
Take away peoples disposable income =great tax year. Scombag Government. Out out out.
FG/Lab a cesspit of leeches – gloating at how well they have taken the credit of the efforts of others
The soon you lot are on the scrap heap along with your policies from Angela the better.
Things only seem to be the government’s fault when it suits your political agenda.
The peoples agenda ?
JohnMcGahan – FG
FG are in Government – Look up what Government means yea big ejjit.
Noonan, architect of the most Regressive tax system in the EU. Lobby lover who passes anti citizen laws.
No allowance for inability to pay:-
- Car Tax … wealthy new car owners subsidised by owners of older cars.
- LPT … Revenue given “soviet” powers to take it from pay, pensions or your estate when you die.
(No EU government has consent to tax Family Homes!)
- Water Tax … the last straw …
Ireland a disgusting place to live.
Are you saying property tax does not exist in any other eu country?
Noonan hasn’t made any major changes to our progressive/regressive tax system. We’ve a relatively high progressive system
Second most PROgressive tax system on the planet according to the OECD. Tricky when the facts get in the way of a populist argument.
Soviet Noonan says-
“I dont care if you paid your Car Tax for the past 40 yrs, cough up €951 for your 10 yr old car OR get off the Irish roads – I only pass laws for the wealthy who can afford new (low tax) cars”
“Old person, if you can’t afford the tax on your family home, then move out or we will take it with interest and penalties from your kids when you die!” Try a referendum on Family Home Tax in any EU country … and ask Enda about his 1993 quote on Family Home Tax!
“Old person, we want 1 week of your old age pension as tax on water or else we will add penalties and interest …. ”
Ireland a failed society – a disgusting place to live. ..
Of course we’re over taxed by international standards, particularly when considered against the generally poor level of public service received. Don’t hear any parties in the Dail suggesting we should lower taxation though.
OECD is wrong and draws a false and misleading conclusion that Ireland has a progressive tax system. The OECD only looks at tax on income and cash transfers and ignores the rest.
property tax exists in Spain.Mine is about €1500 a year,plus water charges €400,plus rates €350 plus community charges €1200 and a tax system that is as clear as mud and they will absolutly embargo your account and fine you if you miss a payment.Ireland is a civilized paradise by comparison.
The car tax changes were brought in my the greens and the water charges were decided in principle by the last government so you can’t say Bruton was the architect. Those quotes look a bit dodgy as well.
Minister Noonan left the annual car tax unchanged in 2014 budget .. seemed like pro citizen … but sneakily increased the quarterly car tax rate by 7.2% (€250 to €268) in the finance bill. A low nasty disgusting thing to do to those who cant afford to tax their cars for a full year and could least afford it. Ireland a disgusting place to live.
Rumour has it Michael Noonan wants to scrap the USC for Xmas,
But Enda”Scrooge”Kenny is having none of it..
Whats the point in having a growing economy if the benifits of it are not filtered down.And this extra tax take where is it going to go? bond holders? We should demand it goes towards the people who have suffered these last 5 years ie 90% of the population.
Great news, well done us :)
All that cash and we still dont have a pot to pi$$ in! Thanks alot you shower of incompetent ……
Peculiar how those who pay the least tax complain the most about paying it.
Name the minister(s) in the cabinet that are connected to Ansbacher and I will believe you !
The Shinners are out in force tonight!
Nothing to do with anything he did.Waste of space
woohooo, more cash available to piss away to quangos and board appointed cronies/relatives.
USC comes straight off the top. What kinda govt couldn’t make a profit with the measures introduced. Even Bertie would have found a way to make it….and the of course blow it
Good depends on which side you’re on. Great for those taking the money, not so great for those of us paying it.
Rob the poor to feed the ritch bond holders.
And Minister Noonan thinks this is GOOD. Am I missing something here.
have your say