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Tax Yield

Dáil Éireann Debate, Thursday - 13 June 2013

Thursday, 13 June 2013

Questions (59)

Pearse Doherty

Question:

59. Deputy Pearse Doherty asked the Minister for Finance the reason less income tax was collected than expected as per the end of May Exchequer statement. [28401/13]

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Written answers

Income tax receipts to end-May, at €6,122 million, were €55 million (0.9%) below profile and €125 million up year-on-year. Income tax receipts in the month were basically on target, recording a small surplus of €4 million (0.3%) against a target of €1,075 million. As the Deputy may be aware, Income Tax comprises of a number of individual sub-heads, including PAYE and non-PAYE, which includes Schedule D (paid by farmers and the self-employed), as well as other relatively minor sources such as DIRT, Withholding Tax and Dividend Withholding Tax.

Of these sub-heads, the primary driver for the cumulative shortfall against profile was the lower than expected DIRT receipts recorded in April last, which is possibly reflective of the lower retail interest rates recorded in the year to date. This was discussed in the end-April 2013 Exchequer Returns information note.

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