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Brian Lawless/PA

Irish deficit now at €1.7 billion

VAT receipts are up 7.1 per cent to €2.1 billion.

THE DEPARTMENT OF Finance has said that tax receipts last month were up €650 million compared to February 2013.

January receipts had been way down, due to a dealy caused by the switch-over to the SEPA electronic payment system and the department said February’s figures provide a more meaningful comparison year-on-year.

Right now, we have a deficit of €1.7 billion – up from €0.9 billion this time last year, Exchequer reruns reveal. The main drivers are the sale of the Bank of Ireland Contingent Convertible Capital notes in January last year and a loan to the Social Insurance Fund of €300 million last month.

  • Overall, tax revenues are down €4 million year-on-year.
  • Income tax totalled €2.6 billion – an increase of €5 million.
  • VAT receipts are up 7.1 per cent to €2.1 billion.
  • Excise duties, at €649 for the first two months, are down €1 million.
  • Stamp duties are up €4 million.
  • Capital gains tax is up 37.3 per cent to €88 million.
  • Local property tax revenue of €57 million was collected to end-February.

As for corporation tax, tax receipts were down €66 million or 42.3 per cent, but the department said a large portion of this shortfall was received on the first working day of March.

Explainer: What is this SEPA thing all about?>

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    Mute Dec
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    Jun 20th 2020, 7:10 AM

    If the coronavirus hadn’t taken over Brexit is all we’d have been hearing about for the past 3 months……. I’m well aware of the importance of both but I’m sick of Brextit and Covod 19.

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    Mute Michael Kavanagh
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    Jun 20th 2020, 7:29 AM

    @Dec:
    Well – As Leon T said:
    “You may not be interested in war, but war is interested in you”

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    Mute Dec
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    Jun 20th 2020, 11:51 AM

    @Michael Kavanagh: A Trotsky quote to make a point re the advancement of capitalism…. however unlikely it may be it’s an excellent quote and very apt in this instance! It’s the reason we keep reading and commenting on Brexit and other such articles even when we’re completely disillusioned with them all!

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    Mute willow moon
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    Jun 20th 2020, 11:11 AM

    ‘The Duchy of Lancaster’…..God what is it with these people.

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    Mute Heisen berg1
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    Jun 20th 2020, 9:23 AM

    It just showed how much the readers of the journal are interested in brexit, this storey is up 2 hours and only 2 post about it. I got bord after the scend line .

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    Mute John Daly
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    Jun 20th 2020, 10:38 AM

    @Heisen thing is there is nothing to comment on

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    Mute *.stevem.*
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    Jun 20th 2020, 10:05 AM

    “…which was illuminating in showing how little we still don’t know.”

    Do you even read what you write?

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    Mute Gary Kearney
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    Jun 20th 2020, 12:45 PM

    Boris the Bluffer and his cronies have shown themselves up ti be as useless as most people outside the UK saw them to be.
    1000 people a day dying from Covis-19 but they only count hospital deaths! It keeps the numbers low.
    All the lies they told about Brexit are being shown as that

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    Mute Heidi Cain
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    Jun 21st 2020, 2:49 PM

    @Gary Kearney: there are not a thousand dying each day check worlometers

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    Mute Gerry Ryan
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    Jun 20th 2020, 12:32 PM

    When the boy cried wolf he gained a reputation. British Perfidy has been around for hundreds of years. Indeed Stalin refused to believe the British when they warned him of imminent German onslaught. He thought they were lying. That’s what reputation does.

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    Mute Bríann O Connor
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    Jun 20th 2020, 10:56 AM

    Embarrassing shambles, the entire affair. Full of lies and some misplaced Empire nostalgia nonsense. Johnson is a pathological liar and unfit to be the prime minister.

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