Exchequer returns show that the Government collected €3.7bn in corporation tax last month
First eight months of 2024 have brought in extra €3.6 billion from the business tax, while income tax and VAT receipts are also running ahead of last year’s figures
Exchequer returns show that the Government collected €3.7 billion in corporation tax last month, up by €1.9 billion or almost 109 per cent on August 2023.said the bulk of the growth likely reflected a timing factor, with the increase offsetting a decline earlier in the year. The bumper nature of the corporation tax receipts yielded from a relatively small group of US multinationals in recent years has prompted the Government to repeatedly caution that this influx of tax could be a temporary windfall and should be treated as such.
August is not a month in which VAT is due, but figures for January to August show that receipts for this tax have reached €14.5 billion, up €1 billion or 7.5 per cent year-on-year.
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