DUBLIN, April 4 (Reuters) - Ireland collected 15% more
tax in the first quarter than the record levels received in the
same period in 2022, data from the finance department showed on
Wednesday, as income tax, VAT and in particular corporate tax
receipts again grew strongly.
While VAT and income tax were 16% and 8% higher respectively
on the year, corporate tax receipts, which have more than
doubled since 2020 to record levels, were responsible for just
over half the overall increase.
The receipts, mainly paid by Ireland's hub of large foreign
multinationals, were 71% high year-on-year at the end of the
quarter, though officials said preliminary indications suggest
that this may in part reflect the earlier payment of taxes.
The exchequer recorded a deficit of 2.1 billion euros to the
end of March due to the transfer of 4 billion euros into the
state's national reserve fund. It was in surplus to the tune of
2.8 billion euros on a 12-month rolling basis.
Ireland was one of the few euro zone countries to record a
budget surplus last year and its central bank sees the surplus
rising to 2.7% of gross national income this year, and to 4.8%
or almost 16 billion euros in each of the following two years.
(Reporting by Padraic Halpin; Editing by Catherine Evans)
Messaging: padraic.halpin.thomsonreuters.com@reuters.net))
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