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Tax receipts come in €1.8bn below target

Government Buildings - Tax take is €1.8bn below target
Government Buildings - Tax take is €1.8bn below target

Exchequer figures for the first 11 months of the year show that total tax receipts are almost €2bn behind the target set out in last year's Budget.

This follows weekend estimates from the Department of Finance which showed that taxes collected this year would be around €1.75bn below target.

Today's figures show that the total tax take to the end of November was just under €44.7bn, compared with the €46.5bn target.

Stamp duty was almost €600m below expectations at just under €3bn, though income tax was almost bang in line at €12.54bn.

The take from VAT was almost €400m lower than expected at €14bn, while Corporation Tax was almost €350m behind target at €6.2bn. The take from excise was around €250m less than projected at just under €5.2bn.

Overall the Exchequer was in surplus to the tune of €1.58bn. But the Government is expecting a deficit of  €1.6bn for the full year, as opposed to the €546m forecast at Budget time.