Minister for Finance Michael Noonan and co. must be salivating at the prospect of being able to burn more money for bondholders, as tax receipts are €800m than expected.
A statement released reads: “November is the largest corporation tax collection month of the year and receipts were strong, closing the month €70 million or 8.1% above the monthly target. On a cumulative basis, CT receipts are now €91 million higher than expected at €7,062 million and up €700 million (11.0%), year-on-year.
“However, it is worth pointing out that there are a number of repayments expected this month, which could impact upon the December corporation tax receipts.”
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