I propose to take Questions Nos. 71 and 116 together.
The monthly tax receipts to end-April 2020 are available at my Department's databank at http://databank.finance.gov.ie/. This information is presented in the tables for the Deputy's convenience.
In ordinary circumstances, my Department produces monthly taxation profiles at the beginning of the year based on the previous Budget's taxation forecasts. Two factors contributed to the process differing in 2020. In the first instance, the forecasts in Budget 2020 were carried out on the assumption of a 'disorderly Brexit'. As this assumption became outdated, my Department published a high-level technical update as part of the Medium Term Fiscal Strategy published in January. From this technical update, the initial monthly profiles for tax receipts were derived.
Following this, due to the unprecedented Covid-19 situation, it was necessary to substantially update the monthly profile of expected tax receipts for 2020, which was carried out on the basis of the forecasts published in the Stability Programme Update 2020. These profiles take into account the actual Exchequer tax outturn until end-April and attempt to reflect the potential impact of the pandemic on receipts.
As such, there are no revised monthly taxation profiles for the months January to April. Furthermore, unallocated receipts are not profiled. These receipts are allocated to the appropriate tax headings by the Revenue Commissioners over the course of the year. The May Exchequer returns, and all subsequent publications, will include a comparison of the tax outturn to the revised profiles.
Table 1 displays tax receipts to end-April. The revised profiles for monthly taxation receipts are presented in Table 2. The previous profiles, which were based on the Medium Term Fiscal Strategy technical update, are presented in Table 3.
Table 1: monthly tax receipts to end-April 2020, € thousands
|
January
|
February
|
March
|
April
|
Total
|
Customs
|
23,800
|
28,600
|
26,000
|
21,700
|
100,100
|
Excise Duty
|
511,968
|
369,066
|
401,936
|
308,709
|
1,591,679
|
Capital Gains Tax
|
67,571
|
84,591
|
27,675
|
16,245
|
196,082
|
Capital Acquisitions Tax
|
23,180
|
5,796
|
13,470
|
15,037
|
57,483
|
Stamps
|
143,626
|
134,351
|
124,664
|
118,965
|
521,606
|
Income Tax
|
2,197,999
|
1,779,739
|
1,665,252
|
1,876,840
|
7,519,830
|
Corporation Tax
|
115,914
|
466,603
|
287,454
|
32,597
|
902,568
|
Valued Added Tax
|
2,701,541
|
355,337
|
1,080,257
|
86,448
|
4,223,583
|
Unallocated Tax Receipts
|
29,989
|
18,066
|
-5,039
|
-449
|
42,567
|
Motor Vehicle Duties
|
91,235
|
79,460
|
82,820
|
76,118
|
329,633
|
Total
|
5,906,823
|
3,321,609
|
3,704,489
|
2,552,210
|
15,485,131
|
Table 2: profile of monthly tax receipts to end-2020, € millions
|
May
|
June
|
July
|
August
|
September
|
October
|
November
|
December
|
Customs
|
19
|
20
|
25
|
28
|
28
|
30
|
30
|
25
|
Excise Duty
|
290
|
295
|
379
|
373
|
383
|
588
|
529
|
666
|
Capital Gains Tax
|
11
|
9
|
16
|
12
|
20
|
28
|
65
|
508
|
Capital Acquisitions Tax
|
14
|
15
|
18
|
21
|
26
|
67
|
183
|
13
|
Stamps
|
34
|
26
|
72
|
62
|
53
|
203
|
113
|
120
|
Income Tax
|
1,052
|
1,007
|
1,043
|
1,166
|
1,140
|
1,291
|
2,605
|
1,420
|
Corporation Tax
|
1,619
|
1,460
|
323
|
286
|
517
|
1,128
|
2,882
|
1,068
|
Valued Added Tax
|
980
|
86
|
1,584
|
138
|
2,064
|
266
|
2,625
|
317
|
Motor Vehicle Duties
|
69
|
60
|
81
|
73
|
70
|
86
|
87
|
69
|
Total
|
4,087
|
2,979
|
3,541
|
2,158
|
4,302
|
3,687
|
9,120
|
4,206
|
Table 3: previous profiles of monthly tax receipts to end-2020, based on the Medium Term Fiscal Strategy, € millions
|
January
|
February
|
March
|
April
|
May
|
June
|
July
|
August
|
September
|
October
|
November
|
December
|
Customs
|
24
|
37
|
27
|
22
|
27
|
28
|
29
|
35
|
36
|
35
|
35
|
30
|
Excise Duty
|
512
|
438
|
512
|
577
|
492
|
504
|
549
|
535
|
466
|
572
|
514
|
649
|
Capital Gains Tax
|
68
|
81
|
17
|
18
|
15
|
13
|
22
|
17
|
28
|
39
|
91
|
718
|
Capital Acquisitions Tax
|
23
|
13
|
18
|
16
|
19
|
20
|
24
|
28
|
34
|
108
|
228
|
19
|
Stamps
|
144
|
114
|
95
|
117
|
143
|
103
|
161
|
131
|
101
|
324
|
131
|
202
|
Income Tax
|
2,213
|
1,900
|
1,590
|
2,120
|
1,870
|
1,880
|
1,980
|
1,815
|
1,745
|
1,910
|
3,790
|
1,922
|
Corporation Tax
|
116
|
152
|
249
|
146
|
1,973
|
2,525
|
67
|
254
|
728
|
1,331
|
2,980
|
1,264
|
Valued Added Tax
|
2,717
|
221
|
2,185
|
169
|
2,482
|
172
|
2,361
|
222
|
2,480
|
257
|
2,492
|
172
|
Motor Vehicle Duties
|
91
|
80
|
85
|
82
|
83
|
75
|
85
|
73
|
70
|
73
|
63
|
64
|
Total
|
5,907
|
3,036
|
4,777
|
3,267
|
7,103
|
5,322
|
5,278
|
3,110
|
5,688
|
4,649
|
10,323
|
5,039
|