An increase in tax revenues led to a fall in the exchequer deficit to €1,055 million at the end of last month compared with a deficit of €2,319 million in the same four-month period last year.
The Department of Finance said yesterday that cumulative tax receipts were up by 3.5 per cent last month, or €475 million, against its expectations.
It said that April was not significant in terms of corporation tax receipts and was not a VAT-due month.
“The monthly performance saw strong year-on-year growth recorded across the majority of tax heads,” the department said. “However, there were some significant one-off and timing factors, which have helped flatter the April tax position.”
Receipts from corporation tax to the end of the month stood at €759 million, up by 20.8 per cent year-on-year and €315 million, or 70.8 per cent, above profile.
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The department reported non-tax revenues of €1,954 million at the end of April. This is up by €1,560 million, or 395.4 per cent in year-on-year terms.