Connect with us

EU

#Ireland finances continue to improve in July

SHARE:

Published

7 years ago

on

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. You can unsubscribe at any time.


Ireland’s exchequer recorded a surplus of €896 million to the end of July, compared to a deficit of €277m (£253.65m) in the same period last year, the finance department said on Friday (2 August), writes Graham Fahy.

The surplus means the country is on track to record its first budget surplus in more than a decade this year.

Tax revenues to end-July were €31.945 billion, which was 0.4% ahead of target and 7.6% or €2.255bn more than recorded in the same period of 2018.

The improvement in tax revenues was largely due to a strong corporate tax take of €437m in July, which pushes year-to-date corporate tax receipts into surplus, ahead of target by 4.8% or €210m.

Corporate tax receipts, mainly from Ireland’s large cluster of multi-national firms, have more than doubled in recent years but are forecast to fall back this year after a portion of last year’s surge was adjudged to be a one-off.

Income tax receipts for July of €1.727bn were €142m behind the monthly target, but this was due to a timing issue which is expected to unwind, the finance department said.

Advertisement

Share this article:

Share this:
Related Topics:
Guest Contributor - Opinion

Opinions expressed are purely those of the author and not endorsed by EU Reporter. The article was unsolicited by EU Reporter, and the author guarantees the truthfulness of the contents of the article. No payment was made by EU Reporter to the author

EU Reporter publishes articles from a variety of outside sources which express a wide range of viewpoints. The positions taken in these articles are not necessarily those of EU Reporter. Please see EU Reporter’s full Terms and Conditions of publication for more information EU Reporter embraces artificial intelligence as a tool to enhance journalistic quality, efficiency, and accessibility, while maintaining strict human editorial oversight, ethical standards, and transparency in all AI-assisted content. Please see EU Reporter’s full A.I. Policy for more information.
Advertisement

Trending