DUBLIN: Ireland's tax take was 1.2 percent, or 157 million euros, ahead of target for 2018 at the end of the first quarter, the finance department said on Tuesday, as corporate tax receipts remained stronger than officials had estimated.
Corporate tax receipts, mainly from Ireland's large cluster of multinational firms, have surged in recent years and after a particularly unexpected jump last year, officials forecast that they would fall back by 9 percent this year.
While just 3 percent of that projected amount was due to be collected by the end of March, the 524 million euros that came in was double what was forecast and enough to push the tax take ahead of profile, making up for weaker-than-expected growth in income tax, which came in 171 million euros below target.
Corporate tax receipts are not significant at this stage of the year, the finance department said.
The exchequer recorded a deficit of 966 million euros at the end of the first quarter, compared to one of 1.1 billion euros a year ago, it added.
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