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.