Exchequer returns published earlier this month show a surplus of €343 million at the end of November. Tax receipts for end November were €739 million (11.9 per cent) higher when compared to the same month in 2014 and cumulative tax receipts of €41,972 million have been collected.

November is the main month for income tax receipts from the self-employed. €16,567 million was collected in income tax to end-November 2015. The year-on-year increase is €801 million or 5.1 per cent. Income tax is €51 million (0.3 per cent) above target for the period. For the month of November, income tax was up €69 million compared to last year, however, this is slightly below target for the month (€44 million or 1.6 per cent).

Corporation tax receipts to end-November were €6,362 million. This represents a €2,177 million (52.0 per cent) increase compared to last year and €2,328 million (57.7 per cent) ahead of target. See our report on the correspondence from the Revenue chairman to the Minister for Finance on the corporation tax surplus.

VAT receipts are up €934 million or 8.6 per cent when compared with the same period last year.

Local property tax has brought in €427 million for the period to end November. This amount is €25 million (6.2 per cent) ahead of target.

You can read the end November exchequer statement and supporting information on the Department of Finance website.