Strong gains in income tax and a good Christmas trading period reflected in VAT, saw the states tax take increase by 7% in January, compared with the same period last year.
Income Tax performed strongly, with receipts of €1,883 million collected in January. This represents a year-on-year improvement of 7.6% or €133 million.
January is generally the largest month of the year in terms of VAT receipts as collections in the month primarily relate to the November/December trading period. Receipts in the month amounted to €2,730 million, which represents a strong year-on-year increase of 11.7% or €285 million.
Overall, Tax revenues of €5,370 million were collected in January 2019, an increase of 7% or €351 million on January 2018.
Total net voted expenditure to end-January 2019, at €4,215 million, was up €255 million or 6.5 % in year-on-year terms.
Combined receipts from non-tax revenue and capital receipts of €1,080 million were up 9% (€90 million) year-on-year.
Non-voted expenditure was up year-on-year by 13.6% or €71 million.
