Exchequer returns fail to reach tax target

TAX revenues are continuing to improve on last year but are marginally below the Government’s expectations.

The latest Exchequer figures published yesterday showed that the state’s tax take to the end of May came to €12.79 billion, an increase of €677m, or 5.6%, on the corresponding period last year.

However, the Government had expected to take in €12.86bn by now, meaning the tax take was about 0.5% below target.