Ireland's tax take still beating expectations

Exceeding the forecasts...

 Ireland's tax take still beating expectations

Photocall file photo

Ireland's 2016 tax haul is still beating expectations, as corporation tax remains a major talking point. 

The nation's tax haul has been €742m stronger than forecast at the start of the year, as the fresh Exchequer returns continue to exceed expectations.

Since January, the State has brought in some €22.5bn, 3.4% above the expected growth rate.

Corporation tax has once again fared the most impressively, with an 18.9% boost showing for takings for the first six months of 2016.

Commenting on the performance, Michael Noonan said...

"The Exchequer Returns for the first half of 2016 show our plans to fund vital public services are on track and that collecting revenues from a broad base continues to pay dividends for Irish.

"The main types of taxes are all performing broadly as anticipated and that has resulted in cumulative tax receipts being up €742 million (3.4%) on profile, which represents a 9.2% (€1,901 million) increase when compared to the same period in 2015.

"The results being published today support our financial position for this year and also support our plans for 2017’s budget."