IRELAND’S TAX INCOME was slightly ahead of target, with the government’s revenues 2.3% ahead of their expected amounts for 2010, the Department of Finance has confirmed.
End-of-year figures published by the Department showed that the total tax take for the exchequer for 2010 was €31.753 billion, about €703m ahead of the targets laid down at the beginning of the year.
Spending did overshoot its targets, but by the comparatively small amount of 0.3% – putting the Budget deficit for 2010 at just under €18.75bn.
Spending totalled €46.434bn, the department’s figures said, exceeding the targeted total by €149m.
The largest segment of the country’s tax take, that of Income Tax, reached €11.726bn – a shortfall of €254m – but other significant contributors, like VAT and corporation tax, both came in ahead of forecasts.
Corporation tax, in particular, returned €764m more than had been budgeted, offering €3.964bn for the twelve months to December 31.
Customs duties were 14.3% ahead of target, as was Capital Gains Tax (2%). Capital acquisitions tax, however, was 0.9% short of its target.
Only two of the government’s fifteen departments spent more than had been expected;  the Department of Health spent 3.2% more than anticipated, at €11.621bn, while the Department of Social Protection spent €13.184bn, 2% more than had been budgeted.
Just click Like.