Menu
05/01/2012
Tax Revenue Puts Finances "Under Control"
The Finance Minister has said Ireland is entering 2012 with its finances "under control", buoyed by an increase in income tax.
The statement, issued by Finance Minister Michael Noonan and Public Expenditure Minister Brendan Howlin on the 2011 Exchequer return figures, said the budget deficit was €2.75 billion lower than 2010 when the impact of banking related expenditure was ignored.
The minister said the figures showed he was making progress in returning public finances to a more sustainable path.
The 2011 figures are slightly ahead of estimates included in Budget 2012 and budgetary targets set as part of the EU/IMF Programme for 2011.
Minister Noonan said: "After three years of falling receipts, tax revenues in 2011 grew by over 7%. This is to be welcomed although we cannot lose sight of the fact that tax revenues were somewhat less than originally planned.
Tax revenues in 2011, at €34 billion were €2.3 billion higher than in 2010 with the year-on-year increase due primarily to income tax growth of 22% and a growth in stamp duty revenues of 45%.
Meanwhile, some €261 million in corporation tax receipts due for receipt in December were not received into the Exchequer account in time to be accounted for in 2011.
The bulk of these receipts have since been received and will form part of the January 2012 tax revenue outturn, the Department of Finance said.
(DW)
The statement, issued by Finance Minister Michael Noonan and Public Expenditure Minister Brendan Howlin on the 2011 Exchequer return figures, said the budget deficit was €2.75 billion lower than 2010 when the impact of banking related expenditure was ignored.
The minister said the figures showed he was making progress in returning public finances to a more sustainable path.
The 2011 figures are slightly ahead of estimates included in Budget 2012 and budgetary targets set as part of the EU/IMF Programme for 2011.
Minister Noonan said: "After three years of falling receipts, tax revenues in 2011 grew by over 7%. This is to be welcomed although we cannot lose sight of the fact that tax revenues were somewhat less than originally planned.
Tax revenues in 2011, at €34 billion were €2.3 billion higher than in 2010 with the year-on-year increase due primarily to income tax growth of 22% and a growth in stamp duty revenues of 45%.
Meanwhile, some €261 million in corporation tax receipts due for receipt in December were not received into the Exchequer account in time to be accounted for in 2011.
The bulk of these receipts have since been received and will form part of the January 2012 tax revenue outturn, the Department of Finance said.
(DW)
Related Irish News Stories
Click here for the latest headlines.
26 May 2009
No More Income Tax Hikes, Claims Lenihan
The Finance Minister Brian Lenihan has said there will be no further income tax increases this year. The vow comes only a month after the Government doubled the income levies in the emergency budget. Despite the assurances, Mr Lenihan has confirmed that a property tax and a carbon tax were being considered.
No More Income Tax Hikes, Claims Lenihan
The Finance Minister Brian Lenihan has said there will be no further income tax increases this year. The vow comes only a month after the Government doubled the income levies in the emergency budget. Despite the assurances, Mr Lenihan has confirmed that a property tax and a carbon tax were being considered.
29 January 2009
Taxes Set For 2009/10 Hike?
Although there was a plea yesterday that a hike in personal taxes should be a 'last resort', the Government and social partners continued their tough negotiations on the economy today and it has emerged that the 41% income tax bracket is likely to go up significantly in the next budget.
Taxes Set For 2009/10 Hike?
Although there was a plea yesterday that a hike in personal taxes should be a 'last resort', the Government and social partners continued their tough negotiations on the economy today and it has emerged that the 41% income tax bracket is likely to go up significantly in the next budget.
19 February 2019
Urgent Action Needed On Outstanding Tax Payments Of €4.3bn
Labour has called for urgent action on outstanding tax payments of €4.3 billion owed to Revenue as of 31 January, 2019. According to Labour Finance spokesperson Joan Burton, a total of €969m is immediately available for collection and would make a significant difference to public services.
Urgent Action Needed On Outstanding Tax Payments Of €4.3bn
Labour has called for urgent action on outstanding tax payments of €4.3 billion owed to Revenue as of 31 January, 2019. According to Labour Finance spokesperson Joan Burton, a total of €969m is immediately available for collection and would make a significant difference to public services.
11 November 2016
Concerns Raised Over Impact Of Trump's Tax Plans On Ireland
Concerns have been raised over the impact of US President-Elect Donald Trump's plans to reduce American corporation tax to 15%. Sinn Féin and Labour have both called on the Government to address concerns over the impact such a tax policy could have on Ireland.
Concerns Raised Over Impact Of Trump's Tax Plans On Ireland
Concerns have been raised over the impact of US President-Elect Donald Trump's plans to reduce American corporation tax to 15%. Sinn Féin and Labour have both called on the Government to address concerns over the impact such a tax policy could have on Ireland.
21 August 2015
Entrepreneurs And The Self-Employed 'Deserve Tax Standardisation' - FG
Entrepreneurs and self-employed people in Ireland "deserve tax standardisation", Fine Gael has said. Fine Gael TD for Meath West, Ray Butler, made the comments following the news that the Department of Finance is to review of the taxation of entrepreneurs and the self-employed in Ireland.
Entrepreneurs And The Self-Employed 'Deserve Tax Standardisation' - FG
Entrepreneurs and self-employed people in Ireland "deserve tax standardisation", Fine Gael has said. Fine Gael TD for Meath West, Ray Butler, made the comments following the news that the Department of Finance is to review of the taxation of entrepreneurs and the self-employed in Ireland.
-
Ireland WeatherThis Evening and Tonight:Any rain along the north coast soon clearing north to give a dry evening. Further rain will move south and east in the early hours, occasionally heavy. Remaining mild. Minimum temperature 8 °C.
