In the eight months to the end of August, tax revenue is just over 26%, or €10.4bn, ahead of where it was this time last year.
Once again, there has been a surprise boost from corporation tax. August is not normally a month when much corporation tax is collected.Cumulatively in the year to date, the Exchequer has collected €2.6bn more in corporation tax than it had forecast. Measured by Gross Domestic Product , the economy grew by 11.1% on an annual basis, today's CSO figures show. GDP takes in the performance of multinationals.
Today's figures show that the performance of the economy from April to June was marked by a recovery in spending by consumers on services as society emerged from Covid-19, but also by a strong investment in housing and industry. "Indeed consumer spending essentially returned to pre-pandemic levels in the second quarter, a very notable outcome," he added.
RobertShortt We are going to have the bubble burst on us again
RobertShortt Classic, six billion surplus is worrying news, only in Ireland, a little glass half empty that report
RobertShortt I wonder what the boys and girls back in Brussels think of this
RobertShortt The Greens need this extra cash to install a few more bike lanes, so we can all sit in traffic jams and emit more and more pollution into the atmosphere. Then they will tell us the pollution is getting worse and therefore we need.... yet more bike lanes!!!
RobertShortt So much for that whole lockdown will destroy the economy stuff.
RobertShortt €6 billion surplus , how long will it take for the government to waste this money and still have have no services fit for purpose.
RobertShortt In 2021 over 30 per cent of income tax receipts and 80 per cent of corporation tax receipts are related to foreign multinational firms. top 25 per cent of earners pay approximately 80 per cent of income tax while one in four taxpayers paid little or no income tax.
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Source: IrishTimes - 🏆 3. / 98 Read more »