Latest exchequer returns show the Government collected €20.1 billion in tax revenue up to the end of March
Minister for Finance, Michael McGrath whose department has played down the significance of a decline in corporate tax receipts. Photograph: Collins
Corporation tax, now the Government’s second largest tax channel after last year’s record €24 billion haul, generated €2.4 billion for the three-month period. Last year, corporation tax receipts were down on an annualised basis for several months before finishing the year up on the previous one. VAT receipts were also up on last year, totalling €7.1 billion for the three-month period, up 5.4 per cent year on year. The sales tax has been helped by the strong labour market. On a cumulative basis, more people working means more overall spending.
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