Strong VAT receipts and lower-than-expected repayments in February saw tax revenues come in €44m (1.6%) ahead of target with €2.74 billion collected during the month.
The latest Exchequer returns show €503m was collected in VAT during the month, despite February being a non-VAT due month.
The Department of Finance also said VAT receipts were higher due to lower-than-expected repayments.
For the year to date VAT receipts are 16.9%, or €407m, ahead of target.
February Tax revenues were up 1.6% (€44 million) against profile https://t.co/cnFOTjRwjI pic.twitter.com/2Zt0815vfW
— Dept of Finance IRL (@IRLDeptFinance) March 2, 2017
The Exchequer returns also show increased tax receipts for the first two months of the year resulted in a surplus of €587m, compared with a €310m surplus for the same period in 2016.
A total of €7.5 billion was collected in tax in January and February.
However, income tax receipts last month were 6%, or €95m, below target, with €1.48 billion collected, while corporation tax revenue of €208m was also 6%, or €13m, behind the forecast.
Moreover, excise duties for February were behind target, with €345m collected, €64m below expectation, and capital gains tax was 9% below profile at €58m.
Commenting on the figures, Tax Partner at Grant Thornton Peter Vale said the figures "represent a bit of a mixed bag for the minister for finance.
"On the positive side, the overall figures are slightly ahead of forecast. However, most of the key tax heads underperformed, with VAT the only positive performer.
"With employment figures showing strong growth, it is surprising that we are not seeing a resultant increase in income tax receipts, notwithstanding the lower income taxes that kicked in at the start of the year.
"The minister will hope that ongoing strong VAT receipts, combined with expected healthy corporation tax collections, prop up any underperformance elsewhere as the year progresses
"However longer term, both VAT and corporation tax receipts remain susceptible to developments elsewhere, including Brexit and potential US tax reform."
