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THE STATE HAS raised €68.2 billion in taxes so far this year, an 11% increase when compared to figures last year.
A quarterly update published by the Department of Finance this evening reported a “steady growth” in the amount of money coming from income tax, vat and excise duties, but (again) the driver of the tax take is from corporation tax.
Corporation tax receipts have so far raised €17.8 billion this year, a 23% increase compared to the same period last year. However, there was a decline of €0.2 billion in the sum of money recieved from corporation taxes last month.
Finance Minister Jack Chambers said last month’s decline “remind us of the volatility associated” with the receipts. He said the Government has attempted to mitigate any risks through investing in long-term so-called ‘rainy day’ funds.
Peter Vale, a Tax Partner at Grant Thornton Ireland, said Government should not be put off spending – particularly on infrastructure – over the slight decline in corporation tax receipts.
“Gaps in key infrastructure areas is arguably the biggest threat to the ongoing strength of foreign investment and resultant corporation tax receipts,” he said.
Government saw other revenue streams increase too this quarter, including a 7% rise in the funds from VAT and a 7.1% rise in the funds from income tax.
In last quarter alone the State raised €23.4 billion, equating to a 14.5% increase compared to the third quarter earnings of last year. The Department of Finance noted that the “bulk” of these funds were from corporation tax.
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Ffg and thier election bull has no ends
There is no end to what this government will do to try win votes. I hope people can see through this and vote these guys out for ever. These guys can only have their own greedy interests at hand. Remember the little kids in hospital with terrible pain from scoliosis and the money that was squandered on the bike shed and the RTE bail out and the most expensive hospital in the world that facilitated a developer to have an ever ending cash cow from this government. It’s a pity we don’t have laws like they have in America where these crooks would be in jail.
@Dave Barrett:
I think strengthen the Pedo laws should be a priority
before the election.
Just in case.
FF FG GP Bribery and Corruption Specialists .
@Jim Ryan:
Bribe away if it puts money in the people’s pockets
PS
IRELAND 15th on the list of LEAST corrupt counties in the world.
@H Woo: 193 countries in UN
Micheal Martin, trying to bankrupt the country a second time. It’s the fiannna fail way.
@Michael o connor: ffg one party, one agenda.
@Colette Byrne:
Sin. Fein, the one trick pony party.
@Michael o connor:
Sin Feins proposed spending over the years when added up would have wiped out the middle income families with the tax increases needed to finance their waffle.
Again, not targeted. Oh we do love giving away money, esp when it’s not theirs to give away. People need to wake up.
It’s a few years since we protested at Shannon Airport !!!!!!!
@Elizabeth Doyle:
Who cares?
Cue, the schools will exploit an opportunity to introduce a new voluntary charge, just wait!
More bribery, more freebies, more welfare handouts, more Hamas appeasement, more anti-West nonsense, more wacky environmental policies, more disrespecting of America, does this government have no end to their terrible policies? Is Simon Harris allergic to supporting any sort of policy that isn’t left-wing? This current government has been nothing more than a Statist leach, mooching off the taxpayer and their money. At some point, the people of Ireland will wake up and realise that they are being screwed over, but it looks like they are blinded once again and continue to stab themselves and their wallets in the chest. Harris and Varadkar are up there with Jack Lynch and Garret Fitzgerald as the person who was the worst Taoiseach in our nation’s history.
@Frank O’Hara:
That’s it, get it all up, yill be grand.
@H Woo: You haven’t offered any sort of coherent rebuttal to what I said. Is that because you know that I’m right?
Recognising Palestine is so hypocritical when aeroplanes carrying war equipment flies over Irish airspace and Shannon is used as a stopover.
@Hector turtlehead:
Good to see we play our little part keeping the the free world free
Fantastic news well done government
I see the Sinn Fein (kangaroo cult) bots are creeping back out
@John Nolan: You must have great eyesight to see them in the herds of pro FG & Trump bots …. Weird you haven’t noticed them !! FG supporting Trump bots man.. Like they do stand out, considering FG has always tried to liken SF and their supporters to Trump and his supporters in an attempt to smear them.. but now it’s a good thing when FG bots are supporting Trump bots ..
have your say