Exchequer reports a discrepancy of €101m in returns

There was a discrepancy of €101m in the reported Exchequer returns for March, as income tax returns were erroneously classified as Vat, said the Department of Finance.

“The overall level of tax collected is unchanged,” it said in a statement. “The department, the Revenue Commissioners and the Central Bank are currently examining the issue and a revised Exchequer statement will issue in due course.”

The Department of Finance has not issued adjusted Exchequer returns for March, because it is checking whether there was a similar mistake made in the February returns. A Finance spokesman said that the January figures are correct.