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Irish tax take falls 0.3 percent below target at end-August

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DUBLIN (Reuters) – Ireland fell slightly behind its tax revenue target for 2018 at the end of August after it collected 0.3 percent less than planned due to underperformance in three of the four main tax categories.

While surging corporate tax receipts were 6.8 percent ahead of target in the first eight months, income tax and value-added tax, the two largest tax categories, fell 0.2 percent and 0.9 percent below target. Excise duty was also 6.7 percent behind target at the end of August.

The total tax take, however, was still 5.1 percent up year-on-year, thanks to Ireland’s booming economy.

Expenditure was 0.7 percent behind where the government had estimated to record an exchequer deficit of 1.8 billion euros. The government expects to run a deficit of 0.2 percent of economic output this year, although the central bank has urged it to be more prudent and target a surplus.

(Reporting by Padraic Halpin; Editing by Alison Williams)

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