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Tax revenues rebound

TAX revenues in Ireland rebounded last month, indicating a reversal of a trend towards faltering tax returns.

Income tax, which is the largest source of tax revenue, was €101m or 1pc ahead of projections at the end of September, and is up just over 9.5pc year-on-year on an adjusted basis.

September tax receipts were overall one-eighth higher this year compared to the same month last year.

This came on the back of two consecutive months of shrinking revenues.

In a joint statement, Minister for Finance Michael Noonan and Minister for Public Expenditure and Reform Brendan Howlin said that there were positive indications, but that there needs to be strict accounting controls approaching the Budget.