New figures from the Department of Finance show that for the first ten months of the year the Government's total tax revenue was €34.9 billion - 1.7% below targets set out at the beginning of the year.
Stamp Duties are 16% below target at €2.7 billion, and Capital Gains Tax came in 13.4% below target at €1.3 billion, both taxes reflecting the slowdown in the property market.
The figures show that there is an Exchequer deficit of €3.9 billion for the first ten months of the year, with a shortfall in property-related taxes and excise duties.
At the beginning of the year, the Department had expected to bring in €3.2 billion in Stamp Duty and €1.5 billion in Capital Gains Tax by the end of October.
Income Tax over the ten months was 2.9% higher than expected at €10.3 billion.
The department had also hoped to collect €4.9 billion in Excise Duty by the end of last month, but the figure was 4.1% lower at €4.7 billion.
On the spending side, the Government departments have spent a combined 17% more than in the corresponding period last year.
Reacting to the figures, Ulster Bank's Pat McArdle said that October was a 'mixed picture' for the Exchequer.
He said the figures were 'weak, but not as weak as some of us expected.'
Mr McArdle said that everything 'hinges' on November, as 22% of the tax take is due to be received this month.
He said if October's trend continues, the Department of Finance will get close to their forecasts.
