"Excise duty receipts in March were €0.5bn, reflecting a 1.2% increase compared to the same month last year, but first-quarter receipts are down by €18m."
"The government reduced excise rates on diesel by 20c per litre and petrol by 15c per litre, which will not be reflected in the March Exchequer figures."
"VAT receipts rose by over 7% in March to €3.3bn, with year-to-date figures at €8bn, indicating strong consumer confidence despite cost-of-living pressures."
"An Exchequer deficit of €0.2bn was recorded in the first quarter, contrasting with a surplus of €4.1bn from the previous year, highlighting changing fiscal conditions."
In March, excise duty receipts rose to €0.5bn, a 1.2% increase from last year. However, for the first quarter, receipts were down by €18m. The government reduced excise rates on diesel and petrol in late March, which will likely lead to a decline in April's collections. VAT receipts increased by over 7% to €3.3bn, indicating strong consumer confidence. Overall tax receipts for the first quarter reached €22.6bn, up 3.4%, but an Exchequer deficit of €0.2bn was recorded, contrasting with a surplus last year.
Read at Irish Independent
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