Economy
State warns ‘need for caution’ ahead of budget as corporate tax receipts lag behind target
Corporate taxes declined for second consecutive month, with actual tax take €7 billion less than this time last year
The state collected €61.4 billion in tax in the first nine months of the year, despite corporate tax lagging behind target, as Michael McGrath, the Minister for Finance, has once again warned about the volatility of windfall receipts.
The latest exchequer figures for the year show that the state has collected €3.5 billion more so far this year compared with the same period last year in the form of income tax, VAT and corporate tax.
