According to Exchequer returns published last week, tax receipts for the first seven months of the year were slightly ahead of target at €18.6bn.  Income tax and corporation tax receipts were better than expected at €7.2bn and €1.6bn respectively, while VAT receipts were 2.9% behind target.





Phase 3B of mandatory electronic filing will be introduced on 1 October 2011.  Beginning this week, Revenue will issue letters to over 5,000 taxpayers, identified as Phase 3B mandatory electronic filers.  Revenue will also send advisory copies of these letters to tax advisors together with a list of their Phase 3B clients.