The latest exchequer returns show strong growth in overall tax receipts.

At €4.7bn, Corporation tax receipts are almost 74% ahead of target - and 60% up on the same period last year.

The overall Exchequer deficit is now €2.1bn, compared to a deficit of €8.5bn in the same period last year.

The Department of Finance says the improvement is driven by "increased tax receipts, and non-tax receipts reduced expenditure and a number of one-off transactions."

Without these one-off transactions the deficit would be roughly €4.5bn.

Overall tax receipts in October were €732m - 27% ahead of target.

However, income tax was €24m or €1.7m below forecast, with an under-performance of DIRT the cause of the drop.

VAT receipts since the start of the year total €10bn, an increase of €716m (7.7%), when compared to last year. These figures "are reflective of improved consumer confidence and spending as evidenced by the performance of retail sales for the year to date," the Department of Finance says.

Excise duties for October are up €209m (5.1%), which is 0.8% below profile. Excise receipts for the month were €490m, which was 3.3% below profile.

Local Property Tax receipts for the moth totalled €386m.