It was revealed on Thursday that the the Irish government's tax take for the financial year so far has fallen far below expectations, amounting to only euro 27 billion, compared with an expected euro 30 billion
Income tax receipts in particular were disappointing, and rose by less than half of Finance Minister Charlie McCreevy's initial predictions. Despite this, however, the income tax take was still more than double the amount raised by either corporation tax (euro 4.3 billion), or excise duties (euro 4 billion).
The rise in VAT income was also less than expected, coming in at just under half the 17.7% jump initially forecast by Mr McCreevy.
Experts believe that a combination of factors have contributed to this year's disappointing revenue figures, including the foot-and-mouth crisis, the September 11th terrorist attacks, the dramatic slowdown in the country's high tech and electrical sectors, and increasing unemployment figures.
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment