Infographics

Reports

  1. Fiscal Assessment Report, November 2017

Exchequer monitor

Exchequer Returns: End-May 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 20,544 20,466 78 0.4
↳ Income Tax 8,090 8,109 -19 -0.2
VAT 6,916 7,021 -105 -1.5
↳ Corporation Tax 2,081 1,834 247 13.5
↳ Excise Duty 2,075 2,143 -68 -3.2
↳ Other Taxes 1,382 1,359 23 1.7
PRSI Receipts 4,304 4,230 74 1.7
Other Revenue 2,092 1,931 161 8.3
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 26,940 26,627 313 1.2

*Source: Department of Finance; and internal IFAC calculations.
*Note: Other Taxes include Stamps, Capital Taxes, Motor Tax and Other. Other Revenue includes the National Training Fund, Other A-in-As, Non-Tax Revenue, and Capital Resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
The graph shows that in end-May 2018 tax revenue and PRSI receipts have cumulatively over-performed by €152 million. While corporation tax and PRSI have been the larger contributors to this over-performance, VAT, Excise Duties and Income Tax have been cumulatively below profile.
*Source: Department of Finance; and internal IFAC calculations.

Exchequer Returns: End-April 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 14,738 14,938 -200 -1.3
↳ Income Tax 6,536 6,609 -73 -1.1
VAT 4,844 4,876 -32 -0.7
↳ Corporation Tax 618 637 -19 -3.0
↳ Excise Duty 1,661 1,717 -56 -3.3
↳ Other Taxes 1,079 1,099 -20 -1.8
PRSI Receipts 3,488 3,433 55 1.6
Other Revenue 1,124 1,171 -47 -4.0
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 19,350 19,542 -192 -1.0

*Source: Department of Finance; and internal IFAC calculations.
*Note: Other Taxes include Stamps, Capital Taxes, Motor Tax and Other. Other Revenue includes the National Training Fund, Other A-in-As, Non-Tax Revenue, and Capital Resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
The graph shows the cumulative performance of Exchequer tax revenue and PRSI receipts to end-April 2018. It shows that, in April, the main tax heads have yielded receipts that were lower than previously forecast, whereas PRSI revenue is ahead of expectations.
*Source: Department of Finance; and internal IFAC calculations.