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Thread: April exchequer returns - revenue €7 million below target

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    Politics.ie Member Ren84's Avatar
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    Default April exchequer returns - revenue €7 million below target

    The Dept. of Finance has released exchequer returns showing tax revenue broadly in line with targets. €10.945 billion has been taken in thus far, 7 million below target, but up 145 million from last year. Income tax, VAT and Excise Duty have all come in below target, with Corp Tax offsetting the losses coming in 121 million above target.

    Exchequer figures to end of April 'on target' - RTΙ News

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    Politics.ie Member Ulster-Lad's Avatar
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    Politics.ie Member hammer's Avatar
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    ..................amazing every DOF out-turn is always on target.

    If only they had been so f****** accurate in 2006 - 2009

    D****

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    Politics.ie Member Ren84's Avatar
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    Income Tax - €58 million (1.1%) below target.
    VAT - €105 million (2.9%) below target.
    Excise Duty - €44 million (3%) behind expectations.

    Corporation Tax - €121 million (39.9%) above target.

    The VAT returns are flat YOY, which is a worrying sign. Hopefully this is not a general trend for the rest of the year.

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    Politics.ie Member Ren84's Avatar
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    Quote Originally Posted by hammer View Post
    ..................amazing every DOF out-turn is always on target.

    If only they had been so f****** accurate in 2006 - 2009

    D****
    It's only Corp Tax keeping us above water. I think raising VAT was a mistake. The Gov should reduce it IMO.

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    Politics.ie Member hammer's Avatar
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    Quote Originally Posted by Ren84 View Post
    It's only Corp Tax keeping us above water. I think raising VAT was a mistake. The Gov should reduce it IMO.
    Agree and reduce excise on petrol.

    April isn`t a Vat month though so May might be better.

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    VAT down 3% now that is a real bummer, but so predictable. Soon the penny might drop that the point of negative return was passed when the rate was increased to 23%. This should be set back to 21% and it would act as a stimulus for the hard pressed retail sector.

    For those who are a bit slow on the uptake. reducing the rate of tax does not mean that the actual amount of tax will reduce. (The same logic was applied to those in the tourist economy, so we know that those who are not affected by the recession (AKA politicians) do understand this.)
    When will the Gov realise that the domestic economy needs a stimulus which encourages the few euros in circulation to circulate a little bit faster.

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    Politics.ie Member Ren84's Avatar
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    Quote Originally Posted by hammer View Post
    Agree and reduce excise on petrol.

    April isn`t a Vat month though so May might be better.
    Reduce excise on the auld Ciggies as well.

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    Politics.ie Member hammer's Avatar
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    Quote Originally Posted by Ren84 View Post
    Reduce excise on the auld Ciggies as well.
    Double it

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    Politics.ie Member Ren84's Avatar
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    Quote Originally Posted by hammer View Post
    Double it
    Unlike.

    Cig excise duty is too high. Many are already flocking to the black market for their smokes, with the effect of reducing tax revenue for the state. At the very least the gov should introduce a freeze on further excise duty rises until the next election.

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