Belfast Telegraph

Tax take on track to hit targets

The country's finances are showing strong improvements in tax take, with the Government on course to hit budget targets.

The Department of Finance said income, VAT and corporation are running ahead of projections and the overall figure was 12.5% ahead of the same period last year.

Finance Minister Michael Noonan said he was confident the tax targets for the year would be meet.

"Three of the 'big four' tax heads continue to perform ahead of profile with three-quarters of the year already passed," he said.

"The strong performance of VAT is particularly welcome and highlights the robust nature of measures introduced in Budget 2012. Although challenging targets still remain for the last quarter, I am confident that the overall tax revenue target for 2012 tax receipts can be achieved."

The Exchequer returns for up to the end of September showed more than 26.1 billion euro in tax collected - 385 million euro ahead of profile.

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