Better August, but tax still falling short
Income tax and excise duties still lower than expected, but Vat ahead of targets
As finance minister Paschal Donohoe steps up preparations for Budget 2018, figures from the Department of Finance show that tax revenue is still behind target for the year so far, though the gap has narrowed slightly due to a better than expected tax take in August.
Tax revenues for August were only marginally (0.8 per cent) better than expected, leaving the figure for the first eight months at €2.66 billion, 0.7 per cent or €209m behind target. Some analysts have warned that the continuing tax shortfall meansthere is little likelihood of a positive revenue surprise to fund some of the measures being suggested for the budget.
