May Exchequer returns this week, I hear it's a shocker

The VAT take is apparently waaaaaaaay down , far more than trended so far this year .

Biffo will have some strong words with his cabinet at their meeting , he expects all measures required will be taken to ensure that Ireland does not breach the 3% of GDP deficit ceiling in 2008.

Based on

a) Planned 2008 Expenditures
b) prudent tax income projections for the rest of 2008

we will breach the 3% now.

Don’t worry the revenue is on the case before the Irish banks loose it all :wink:

Revenue initiative is focused on tax evaded funds in large accounts
finance.gov.ie/viewdoc.asp?DocID=5292

Shyte… I’m still working on my VAT returns as we type :blush: :blush:

Are the figures out this afternoon?

What other numbers are due this week? Unemployment?

Imagine you are a small builder and all of a sudden you know that the house you have just built is probably the last job you will do for a while. You have received €50000 in VAT. What would you do?

The monthly Live Register figures are not due until next week (the 10th), a bit later than usual. I think it migt be related to the release of Q1 Household Survey data this week that will lead to a rebasing of the unemployment rate.

Big week for US figures as well I think.

how much of a fall in employment is this likely to show? i heard an economist on radio at the weekend saying employment could fall by 100k this year? that could mean 25k in a quarter

This week’s diary from RTE:

Watch this

Vat Amount ( M) **Growth YoY **

Jan - May 2005 5,534,021m 0
Jan - May 2006 6,251,969m 12.97%
Jan - May 2007 6,943,237m 11.06%
Jan - May 2008 ??

hoping for another bumber november , no doubt.

Vat returns for April/May were very late is being issued by Revenue (of course only affecting those who don’t ROS it). Nevertheless, many returns may only have been completed and filed this week - could have an effect on VAT comparisons.

From Bloomberg

IRISH JANUARY-MAY TAX REVENUE FALLS 8% FROM YR EARLIER
IRISH JAN-MAY TAX REVENUE EU17.1BLN VS EU18.6 BLN
IRELAND JAN-MAY BUDGET DEFICIT EU3.6BLN VS SURPLUS EU266MLN

Yikes.

finance.gov.ie/viewdoc.asp?D … y+2008&m=f

Full report available there.

May has indeed turned out to be a very, very bad month.

Good scoop pin folk.

Wonder what they will cut next to make this deficit null or will we be back with the begging bowl?

thank god bertie and his band of merry men used the money from the boom years to build wonderful, world class infrastructure, a quality public transport system and invested wisely in other public services…Oh, wait a minute…

Any chance we can have a quango to investigate the fuck ups of FF (come on now lads, one more won’t make a difference)? Any report would probably blame nay sayers and doom mongers.

You’re obviously looking at that old Pale map again, you have to look at the whole country Im tellin ya, tch.

And another thing where would you get a quango with that many people?

:smiley: :smiley: :smiley:

What was the Gov Estimate for this period in the budget and how much are we down on stamp duty from this time last year,and if the current trend continues how big will the hole be at the end of year