Almost \u20ac6.57 billion in tax was received by the Exchequer in July, up \u20ac303m (4.6%) on the same month of last year.<\/p>\n
Figures from the Department of Finance show Corporation Tax take continuing to surge, with \u20ac333m taken in the month.<\/p>\n
That is \u20ac101m – or 43.3 per cent – more than in July 2022.<\/p>\n
Income tax receipts were \u20ac217m (8.7%) higher year-on-year, at \u20ac2.7 billion.<\/p>\n
Meanwhile \u20ac2.93 billion was received in VAT, up \u20ac136m (4.9%) on July 2022.<\/p>\n
It means that almost \u20ac47.8 billion has been received by the Exchequer so far this year – up \u20ac4.34 billion (10%) on the first seven months of 2022.<\/p>\n
Corporation tax take is \u20ac1.87 billion (20.7%) higher so far this year at almost \u20ac10.9 billion.<\/p>\n
Income taxes are \u20ac1.48 billion (8.8%) higher at \u20ac18.22 billion, while \u20ac13.2 billion has been received in VAT; up \u20ac1.36 billion (11.5%).<\/p>\n
However there has been a decline in some other tax categories in the first seven months of the year. Stamp duties are currently \u20ac289m (26.4%) lower year-on-year at \u20ac806m.<\/p>\n
Also, capital gains tax take is down \u20ac105m (21.6%) to \u20ac382m, while capital acquisitions taxes are down \u20ac16m (10.2%) at \u20ac141m.<\/p>\n
Overall though, the Exchequer recorded a \u20ac700m surplus in the year to the end of July, compared to a \u20ac5 billion surplus in the same period of last year. The Department of Finance said the bulk of this difference was due to the transfer of \u20ac4 billion to the National Reserve Fund.<\/p>\n
On a 12-month rolling basis, the Exchequer surplus was also at \u20ac700m.<\/p>\n
However when one-off factors – including what is estimated to be “excess” corporation tax take – are excluded, the department says there is an underlying deficit of around \u20ac6 billion.<\/p>\n
The figures show that total Exchequer expenditure stood at \u20ac58.7 billion by the end of July.<\/p>\n
Gross voted expenditure represented \u20ac49.2 billion of that – up \u20ac3.9 billion (8.6%) year-on-year.<\/p>\n
Non-voted expenditure made up the remaining \u20ac9.5 billion – which is \u20ac1.6 billion (20.2%) more than a year ago.<\/p>\n
Article by: Adam Maguire, Business Journalist, RTE.ie.<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":" Almost \u20ac6.57 billion in tax was received by the Exchequer in July, up \u20ac303m (4.6%) on the same month of last year.<\/p>\n","protected":false},"author":1,"featured_media":27873,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[654,1],"tags":[],"class_list":["post-35185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-irish-news","category-news"],"yoast_head":"\n