Belfast Telegraph

January yields 3.5bn euro in tax

More than 3.5 billion euro was collected in taxes last month, the latest exchequer figures show.

Revenue for January was up 17% - by 533 million euro to 3,665 million euro - from the same month last year.

But the big jump was partly down to the late payment of a quarter of a billion euro in corporation tax in recent weeks.

The business taxes were due to be paid in December, said the Department of Finance.

There was also a "significant" increase in income tax.

This was mainly because of the impact of tax measures targeting income brought in during Budget 2011, including the Universal Social Charge.

The amount collected in January amounts to just over a tenth of the annual budget for the year ahead.

A Department of Finance official said the figure was "broadly consistent with expectations".

January is generally the biggest month of the year for VAT receipts.

State revenue at the start of year mostly relates to the traditionally busy trading period in December and November during the run-up to Christmas.

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