Christmas splurge boosts Government coffers

January's tax take was up...

Healthy VAT takings from the festive retail period boosted the Government's tax income last month.

New figures covering VAT payments from November and December show that these takings were 10% higher than the same period 12 months before.

 

The total VAT payments rose to €2.3bn - that's €214m higher than last year. January is traditionally the month with the highest VAT income.

An Exchequer surplus of €1.4bn was recorded in January - that's €272m higher than 2016.

Corporation tax receipts of €64m were collected, which equates to a €40m increase when compared to the same period last year.

Capital Gains Tax receipts of €23m were €13m lower than a year ago.

€17m was recorded in Capital Acquisitions Tax in January 2017, which equates to a year-on-year increase of €8m.