Income and excise tax haul point to 'quick rebound' from Covid-19 slump     

Finance Minister Paschal Donohoe played down the strength of the tax figures, saying that while the income and excise tax sources continued to perform, that the 'cost to the exchequer has been substantial' from the crisis. Picture: Gareth Chaney/Collins

A large rise in the income tax and excise revenues – even before the economy fully reopens – is pointing to a quick rebound from the Covid-19 slump, new figures indicate.  

The April exchequer returns show the Government collected €16.1bn overall tax revenues during the first four months of the year – up by more than €650m from a year ago– despite the huge numbers of people who are still relying on some sort of welfare  payment to make ends meet during the lockdown.