Tax revenues ahead of target
Tax revenues for the first seven months of the year were €20,313m, €500m (2.5pc) ahead of target, according to the latest Exchequer return figures.
At the end of July taxes were €1.68bn (9pc) ahead of the same period last year.
Adjusting for the impact of delayed corporation tax receipts from December 2011 and a reclassification of PRSI to income tax this year, taxes grew by around 6.5pc in the year to end-July.
Income tax was €159m (2.0pc) ahead cumulatively and is over 11pc up on the same period last year on an adjusted basis.
VAT receipts in the month of July were €58m (4.3pc) ahead of target and €87m (1.3pc) ahead of target cumulatively.
Corporation tax was €313m (18pc) ahead of the cumulative profile.
Excise duties were €40m (1.5pc) below profile after a very minor shortfall in the month of July, but were 0.8pc higher year-on-year after the first seven months of the year.
Stamp duties recorded a shortfall against the monthly profile in July of €44m.