Advertisement

We need your help now

Support from readers like you keeps The Journal open.

You are visiting us because we have something you value. Independent, unbiased news that tells the truth. Advertising revenue goes some way to support our mission, but this year it has not been enough.

If you've seen value in our reporting, please contribute what you can, so we can continue to produce accurate and meaningful journalism. For everyone who needs it.

Laura Hutton/Photocall Ireland

Hands up: Department of Finance to adjust figures after mixing-up €101m of VAT with income tax

The department say that the overall level of tax collected remains unchanged.

THE DEPARTMENT OF FINANCE has been forced to alter last month’s exchequer returns after €101 million was classified as VAT when it should have been classified as income tax.

The department was informed of the discrepancy by the Central Bank but say that the overall level of tax collected remains unchanged.

The figures were released last Friday and showed that overall tax revenues were down in march by €4 million year-on-year.

The Department of Finance, the Revenue Commissioners and the Central Bank are currently examining the mistake and a revised exchequer statement is expected to be published later.

Read: Ireland’s finances €3.6bn better than thought – due to accounting error >

Read: Here are the Merrill Lynch reports that underestimated the bank bailout by €47bn >

Readers like you are keeping these stories free for everyone...
A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation.

Close
37 Comments
    Submit a report
    Please help us understand how this comment violates our community guidelines.
    Thank you for the feedback
    Your feedback has been sent to our team for review.
    JournalTv
    News in 60 seconds