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Wednesday 22 November 2017

Exchequer returns show State brought in nearly €17.6bn

Colm Kelpie

Colm Kelpie

The bulk of the money was generated through income tax, with about €7.29bn brought in.

THE state brought in just under €17.6bn in taxes in the first six months of the year - €166m ahead of target. The bulk of the money was generated through income tax, with about €7.29bn brought in.

Some €126m has been generated from the controversial property tax. The Department of Finance said there had been about a 90pc compliance rate, with expectations that targets will be met this year.

An exchequer deficit of €6.6bn was recorded at the end of last month, with spending down €533m. Finance MInister Michael Noonan described the figures as a solid performance.

Public expenditure and reform minister said tax revenues continue to perform to expectations and spending is below target.

"It is clear that we are making significant progress in closing the gap between the state's income and the cost of providing necessary public services," Mr Howlin said.

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