Economic snapshot likely to be positive ahead of Omicron effect
We’ll get a strong read on how the Irish economy is performing this week with exchequer returns, unemployment and national account data out on Wednesday and Friday.
November is the most important month of the year for tax. It’s simultaneously the biggest month for corporation tax, typically one of the biggest for VAT while it also reflects self-employed tax returns from October, the annual deadline. It usually accounts for a sixth of all receipts.
The Government’s tax haul continues to be boosted by the performance of corporation tax, which generated €9.5 billion for the 10-month period to the end of October, €2 billion above profile. The business tax is expected to generate a record €13.9 billion this year.
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