Ireland's Q1 tax receipts were 4.5% lower than projected, mainly due to a decline in corporation tax, but Minister McGrath attributes it to timing.

Ireland's tax receipts in Q1 were 4.5% lower than expected due to a decline in corporation tax, but Minister for Finance Michael McGrath attributed the shortfall to a timing issue that will be resolved later in the year. Despite the initial shortfall, income tax receipts were 2.8% ahead of forecast. The government aims to deliver a budget surplus of €8.3 billion or 2.7% of GNI in 2024, intending to invest in a new sovereign wealth fund.

April 04, 2024
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