€135m shortfall in August tax take

New figures show a poorer than expected performance in the four big taxes for the Government last month.

The latest exchequer statement from the Department of Finance has revealed that €1.763bn was received in August, €135m, or 7.1%, below target.

In August, excise duty was 19% less than what the Department of Finance had hoped for. Corporation tax was 3.5% lower, VAT was down 2.2% and income tax was down 5.3% - the second month in a row that income tax missed targets.

The €135m shortfall is masked by better months earlier in the year, meaning that overall, Finance Minister Michael Noonan has taken in €365m more than he had projected.