The inland revenue had yet another windfall for the fifth year in succession after they collected a total of €45.79bn in taxes last year.
According to it’s Annual Report the latest figure represents an significant increase of 10.6% from the previous year. The latest figure is the second highest figure for net tax receipts in the history of the State only behind the year 2007 when €47.5bn was collected at the end of the economic boom.
The detailed report states that all taxation areas had major increases with Corporation Tax being the highest at 49%, whilst Capital Gains Tax went up 28%, and VAT went up 7%.
The Inland Revenue say the increase tax collections is welcome given the fact the figure is well above projected targets.