Fears as tax return for July is short by €89m - may be first indicator of Brexit impact
Government revenue will now come under extreme scrutiny in the months ahead of October’s budget as Vat receipts came in lower than expected. Exchequer figures released by the Department of Finance were lower than forecast, with Vat, excise and corporation tax all under target.
Although exchequer returns are still ahead of target for the first seven months of the year, the amount collected in Vat during July — the first month after Britain’s vote to leave the EU — was €61m less than anticipated.
