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Tax revenues 'continue to increase'

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Tax revenues continued to increase in January, leaving the state's finances 483 million euro in the red, figures show

Tax revenues continued to increase in January, leaving the state's finances 483 million euro in the red, figures show

Tax revenues continued to increase in January, leaving the state's finances 483 million euro in the red, figures show

Tax revenues continued to increase in January, leaving the state's finances 483 million euro in the red, official figures have revealed.

In the same month last year, the country's finances were 780 million euro in deficit.

The Department of Finance said it took in 3.1 billion euro in tax in January - 1.9% more than last year.

The monthly report revealed that income tax returns continued to fall, down 65 million euro year-on-year, but the figures were offset by increases in VAT (58 million euro), corporation tax (31 million euro), and excise duties (21 million euro).

The department said it has forecast tax revenue to grow by 9.9% during 2011, with 1.1 billion euro more from income tax.

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