VAT receipts surged back to pre-pandemic levels last month as the economy reopened after months of lockdown. The department said VAT receipts were €800 million up on May last year and on a par with the pre-pandemic May 2019 figure. “VAT receipts, in particular, show that both consumers and business are feeling more confident about the future,” he said. After November, May is the most significant month for tax receipts in Ireland, particularly for VAT. “With non-essential retail having now reopened, VAT receipts are likely to rise sharply in the second half of the year,” he said.

Source: The Irish Times June 02, 2021 15:43 UTC