Tax take ahead of target in April

So our deficit is nearly €3 billion higher than it was for the same period last year but the spin is that “tax take is up”?

Or does it just mean they got their sums wrong and the target was 1% incorrect?

Well, the promissory notes are on the national debt already, so the 3 bn is mostly an accounting exercise. Mind you, if it wasn’t paid, we’d have a substantial accounting gain… :angry:

Its ahead of target alright. However, they have front loaded DIRT so that this will reduce the tax take later in the year.

Next thing is that they will be collecting ‘projected’ taxation for 2012 and saying that the take for Q2 has improved significantly.

The deficit is €3 billion higher because we have injected the €3 into Anglo and Nationwide.

Thats right Enoch… DIRT fornt loaded…

At least FG/Lab are learning how to play with the figs…

Watch this fig for the Future… service debt as a % of Income…

2.7B/9.6B = 28%

Tax take for April was €244m ahead of target with income tax €184m ahead of target.
Taking out the front loaded DIRT the income tax take is still €67m ahead of target and overall tax take €127m ahead of target for April.

Esselte what do you think of the debt servicing cost %…

What I don’t get about the income tax being higher than estimates is that it was attributed to the USC effects in several news reports but surely this was built into estimates? Valid for a yoy increase justification but not for beating budget targets…more quality Irish journalism in action I suppose.

Roughly the same as last year (2.5/9.0) but I’d expect it to increase from here