Fall in tax take may hit growth

Conor Keane, Finance Editor

It said the underlying trends in the most recent exchequer returns provided a sharp dose of reality regarding our continued economic growth.

CPA president Michael F Dolan said an analysis of the composition of tax revenue for the first seven months of the year (to end July 2005) showed that over two thirds of tax growth has come from increased VAT and, when added to growth from excise and stamp duty, these combined account for nearly all revenue growth.