Finance ‘confident’ of targets despite fall in Vat

The Government collected less than it anticipated in Vat and in corporate tax receipts last month but finance officials said revenues were still on course to meet the budget targets by the end of the year.

The figures which were released in the exchequer returns for the first seven months of the year come three months before Finance Minister Paschal Donohoe presents his first budget.

Despite July being a Vat payment month, the Government collected almost €1.89bn in Vat receipts in the month, missing the monthly target by a considerable €129m. That was due to a number of sizeable repayments of the tax that were made in the month.