Figures published by the Irish Department of Finance on Monday showed an Exchequer surplus of EUR880 million for the first quarter of 2005, up from EUR272 million in the same period in 2004.
According to the Finance Department, tax receipts for the January to March period were EUR9 billion, with better than expected VAT payments accounting for EUR139 million of the total.
Total tax revenue was therefore revealed to be 12.6% ahead of Q1 2004, a welcome boost for the government to the targeted 9.9% increase.
The Department of Finance additionally announced that government spending for the quarter was down EUR300 million on predictions at EUR7,126 million.
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