Infographics

Reports

  1. Fiscal Assessment Report, November 2017

Exchequer monitor


Exchequer Returns: End-September 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 37,529 37,656 -127 -0.3
↳ Income Tax 14,535 14,542 -7 -0.1
VAT 11,571 11,610 -39 -0.3
↳ Corporation Tax 5,159 4,853 306 6.3
↳ Excise Duty 3,879 4,218 -339 -8.0
↳ Other Taxes 2,385 2,433 -48 -2.0
PRSI Receipts 7,621 7,466 155 2.1
Other Revenue 3,272 3,008 264 8.8
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 48,422 48,130 292 0.6

*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
This table shows the cumulative performance of different revenue items of the Exchequer accounts. Of the main Exchequer tax heads, Corporation Tax has cumulatively over-performed thus far, while Excise Duties are behind expectations. PRSI receipts continue to exceed expectations.
*Source: Department of Finance; and internal IFAC calculations.

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Exchequer Returns: End-August 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 32,422 32,523 -101 -0.3
↳ Income Tax 13,051 13,072 -21 -0.2
VAT 9,382 9,463 -81 -0.9
↳ Corporation Tax 4,366 4,090 276 6.7
↳ Excise Duty 3,475 3,724 -249 -6.7
↳ Other Taxes 2,148 2,174 -26 -1.2
PRSI Receipts 6,798 6,673 125 1.9
Other Revenue 3,046 2,768 278 10.0
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 42,266 41,964 302 0.7

*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
This graph shows the cumulative performance of different revenue items of the Exchequer accounts. Of the main Exchequer tax heads, Corporation Tax has cumulatively over-performed thus far, while Excise Duties and—to a lesser extent—Income Tax and VAT are behind expectations. PRSI receipts continue to exceed expectations.
*Source: Department of Finance; and internal IFAC calculations.

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Exchequer Returns: End-July 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 29,690 29,515 175 0.6
↳ Income Tax 11,447 11,434 13 0.1
VAT 9,187 9,176 11 0.1
↳ Corporation Tax 4,183 3,805 378 9.9
↳ Excise Duty 2,997 3,199 -202 -6.3
↳ Other Taxes 1,876 1,901 -25 -1.3
PRSI Receipts 6,005 5,893 112 1.9
Other Revenue 2,705 2,516 189 7.5
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 38,400 37,924 476 1.3

*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
This graph shows the cumulative performance of different revenue items of the Exchequer accounts. Of the main Exchequer tax heads, Income Tax, VAT and Corporation Tax have cumulatively over-performed thus far, whilst Excise Duties are behind expectations. PRSI receipts continue to exceed expectations.
*Source: Department of Finance; and internal IFAC calculations.

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Exchequer Returns: End-June 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 24,939 24,774 165 0.7
↳ Income Tax 9,743 9,651 92 1.0
VAT 7,101 7,170 -69 -1.0
↳ Corporation Tax 4,033 3,698 335 9.1
↳ Excise Duty 2,471 2,659 -188 -7.1
↳ Other Taxes 1,591 1,596 -5 -0.3
PRSI Receipts 5,124 4,983 141 2.8
Other Revenue 2,468 2,292 176 7.7
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 32,531 32,049 482 1.5

*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
This graph shows the cumulative performance of different revenue items of the Exchequer accounts. Of the main Exchequer tax heads, Income Tax and Corporation Tax have overperformed thus far, whilst VAT and Excise Duties are behind expectations.
*Source: Department of Finance; and internal IFAC calculations.

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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.

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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.

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