Tax revenues to the end of May were 0.7% ahead of target, according to the latest Exchequer figures from the Department of Finance, with the State taking in €14.76 billion in the first five months of the year.
That figure is €105m more than had been planned for in Budget 2013, and is €366m (2.5%) higher than the tax take for the same period of last year.
Despite the Exchequer figures being higher than planned, three of the four main tax categories were below target.
Income tax take to May was €6.12 billion - €55m (0.9%) below expectations. Almost €5 billion has been taken in VAT so far this year - €117m (2.3%) less than anticipated. Meanwhile around €1.83 billion was taken in Excise - €27m (1.5%) below target.
However these shortfalls were more than compensation by a stronger Corporation Tax take than predicted, with that category generating €150m (16.8%) more than anticipated at €1.04 billion.
There was also an unexpected €121m generated via the Local Property Tax - €100m of which was taken in during May - while Stamp Duties earned €23m more than expected at €411m.
A further €32m, listed as ‘unallocated tax deposits’, was also taken in by the Exchequer in the first five months of the year.
