Department of Finance Exchequer Returns for the year to 31 July show a deficit of €8.4 billion in the first seven months of 2009. This compares with a deficit of €3.3 billion in the same period in 2008. Total tax receipts at almost €18.7 billion were short €575 million on projected tax receipts. Continuing the pattern of decline, capital gains tax, capital acquisitions tax and stamp duty were again the main drivers behind the shortfall on the Department of Finance projections.
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