August 2, 2018 / 4:02 PM / 15 days ago

Ireland remains on track to beat tax revenue target again

DUBLIN (Reuters) - Ireland remained on track to beat its tax revenue target again in 2018 after it collected 0.6 percent more than planned in the first seven months of the year, driven once more by surging corporate tax returns.

Company receipts were 9.9 percent ahead of target at the end of July while income tax, the largest tax category, came in 0.1 percent above target after a poor month and value-added tax recorded the same level of outperformance after a strong month.

Expenditure was 0.5 percent behind where the government had estimated to record an exchequer deficit of 277 million euros (£246.8 million) at end-July. The government expects to run a deficit of 0.2 percent of economic output this year, although the central bank has urged it to be more prudent and target a surplus.

Reporting by Padraic Halpin; Editing by Robin Pomeroy

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