For September alone, corporate taxes jumped by almost 15 per cent to €910 million, beating Department forecasts by more than 36 per cent. Grant Thornton tax partner Peter Vale said while the tax returns are “good”, it is not known how sustainable corporate tax receipts are. Income tax rose by 8.4 per cent in the first nine months to €15.8 billion, beating forecasts by 0.3 per cent. VAT, the State’s second-biggest tax earner, tracked 6.4 per cent higher to €12.3 billion, albeit 0.4 per cent shy of target. The Minister said that under a no-deal scenario, there would be a “temporary deficit” rather than the surplus the Government would otherwise have expected.

Source: The Irish Times October 02, 2019 15:30 UTC