The Department of Finance published this week the Exchequer statement for July. Total tax receipts are 1.4% short of the target of €17.4bn for the period. Taking the same period in 2009, total receipts are down €1.4bn. The target for the year stands at over €31bn, leaving €13.9bn to be collected in the remaining 5 months.
The July exchequer statement shows that approx €850m was collected from Income Tax in that month, approx €14m more than expected. However, Income Tax receipts for the period are still 5% behind target and 9% behind the same month in 2009.
Stamp duty receipts are 11.8% short of the target, but this is a slight improvement on June where the shortfall was 13.5%. VAT receipts are almost on target coming in at €6.4bn. €15m was collected in Corporation Tax for the month of July. Corporation Tax receipts are €28m ahead of target for the period January to July.
Capital Gains Tax and Capital Acquisitions Tax are ahead of target with excesses of €12m and €5m respectively.
The Exchequer Statements were published on the Department of Finance website and the tax receipts analysis is available here