High income tax receipts boosts Government revenue as corporation tax lags behind 

Finance Minister Michael McGrath said the strength of income tax receipts, as well as Vat, shows that the economy is “holding up well despite a number of headwinds”.

Despite a fall-off in corporation tax, Exchequer’s returns show that in the year to the end of April, tax receipts have increased by €600m compared to last year largely driven by higher income tax receipts.

Overall, €4.7bn in tax receipts have been collected in April bringing the total so far this year to €24.8bn.