Budget targets on track as €10.8bn taxes paid so far this year

Strong tax returns point to the Government meeting its budget targets this year despite pressures from welfare and health costs.

Figures for the end of April show a better than expected intake in income tax, VAT as well as corporation tax. But the budget deficit still stood at over €7bn at the end of month.

Overall, tax revenues for the first four months this year amounted to €10.8bn, an increase of just under €1.2bn (12.4%) on last year. The Government had forecast an income of €10.43bn for the period.

Figures released by the Department of Finance show that tax returns to the end of April were €370m (3.5%) ahead of expectation. This came from increases in VAT revenues, helped by a rise in the budget, as well as a rise in income tax.

The budget deficit was down from €9.9bn last year thanks in part to the Government deferring the €3.06bn payment on Anglo’s promissory note.

Department sources say that if tax returns are equally as strong for May that it will give an even more “robust” indication of meeting the €35bn intake target.

However, spending was also up by €314m or 2.2% at the end of April because of expenditure in the Departments of Social Protection and Health.


More time indoors is a chance to consider how we buy for our homes without being slaves to fleeting trends, writes Carol O’CallaghanMore time at home offers a chance to consider how we buy for our interiors

Award-winning garden designer Chris Beardshaw share 10 of the best container plants. By Hannah Stephenson.10 of the best plants for pots

A slimmed-down Irish couple has written a bestselling cookery book featuring healthy versions of indulgent meals, says Clodagh Finn.The Daly Dish serves up healthy version of our favourite meals

David Brophy's new choir and a classic Ireland v Holland game feature among today's top tips.Thursday's TV Highlights: David Brophy's new choir and a classic Ireland v Holland game

More From The Irish Examiner