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April exchequer returns - revenue €7 million below target


Ren84

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The Dept. of Finance has released exchequer returns showing tax revenue broadly in line with targets. €10.945 billion has been taken in thus far, 7 million below target, but up 145 million from last year. Income tax, VAT and Excise Duty have all come in below target, with Corp Tax offsetting the losses coming in 121 million above target.

Exchequer figures to end of April 'on target' - RTÉ News
 

hammer

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..................amazing every DOF out-turn is always on target.

If only they had been so f****** accurate in 2006 - 2009

D****
 

Ren84

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Income Tax - €58 million (1.1%) below target.
VAT - €105 million (2.9%) below target.
Excise Duty - €44 million (3%) behind expectations.

Corporation Tax - €121 million (39.9%) above target.

The VAT returns are flat YOY, which is a worrying sign. Hopefully this is not a general trend for the rest of the year.
 

Ren84

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..................amazing every DOF out-turn is always on target.

If only they had been so f****** accurate in 2006 - 2009

D****
It's only Corp Tax keeping us above water. I think raising VAT was a mistake. The Gov should reduce it IMO.
 

hammer

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It's only Corp Tax keeping us above water. I think raising VAT was a mistake. The Gov should reduce it IMO.
Agree and reduce excise on petrol.

April isn`t a Vat month though so May might be better.
 

jimbo99

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VAT down 3% now that is a real bummer, but so predictable. Soon the penny might drop that the point of negative return was passed when the rate was increased to 23%. This should be set back to 21% and it would act as a stimulus for the hard pressed retail sector.

For those who are a bit slow on the uptake. reducing the rate of tax does not mean that the actual amount of tax will reduce. (The same logic was applied to those in the tourist economy, so we know that those who are not affected by the recession (AKA politicians) do understand this.)
When will the Gov realise that the domestic economy needs a stimulus which encourages the few euros in circulation to circulate a little bit faster.
 

Ren84

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Double it :)
Unlike. :mad:

Cig excise duty is too high. Many are already flocking to the black market for their smokes, with the effect of reducing tax revenue for the state. At the very least the gov should introduce a freeze on further excise duty rises until the next election.
 

hammer

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Its time to invest in more XRAY equipment at the ports and another 200 sniffer dogs at ports and airports :)
 

Ren84

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Its time to invest in more XRAY equipment at the ports and another 200 sniffer dogs at ports and airports :)
You're entering laws of diminishing returns now mate. Raising excise duty on cigs will cost the state more and more lost revenue. Bringing duty down would have the effect of increasing revenue coming in.
 

Ren84

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If I still smoked I'd be buying them on the black market...

€10 for 20 smokes is f***in' ludicrous...
I wouldn't chance any of that dodgy shyte full of rat droppings on the black market. People are forced to buy these knock offs due to the prohibitively high cost of retail cigs. It's a complete false economy for the government.
 

hammer

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Make cigarettes illegal and bring the tax take down to ZERO.

We`ll more than make up for it with

Cleaner Streets
Less demand for services in hospital
Longer working life
Longer life
Healthy people :)
 

Ren84

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Make cigarettes illegal and bring the tax take down to ZERO.

We`ll more than make up for it with

Cleaner Streets
Less demand for services in hospital
Longer working life
Longer life
Healthy people :)
Aye, because prohibition and banning stuff has been such a roaring success up until now. :roll:
 
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