Pearse Doherty (Donegal South West, Sinn Fein)
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57. To ask the Minister for Finance the reason the corporation tax figures in the end of May Exchequer statement show a significant reduction in year on year figures. [28399/13]

Michael Noonan (Limerick City, Fine Gael)
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Corporation tax (CT) receipts to end-May, at €1,042 million, were €150 million (16.8%) ahead of profile and €60 million (5.5%) down year-on-year. This year-on-year reduction at this stage of the year was expected, as it was due entirely to the impact of the delayed €251 million CT payment received in 2012, which was reported on extensively by my Department throughout 2012. As the Deputy may recall, CT receipts in January 2012 benefited from a significant delayed payment proper to December 2011. This significantly distorted the year-on-year comparisons of CT in 2012. In light of this, CT was reported on extensively both on an adjusted basis, as well as on a headline basis, throughout 2012.

The distortionary impact of the delayed CT payment on 2013 year-on-year comparisons was again highlighted in the Exchequer Returns information note for January 2013. Adjusting for impact of the delayed CT payment, receipts were up €191 million (22.4%) to end-May 2013 on an adjusted basis, a very encouraging performance.

Pearse Doherty (Donegal South West, Sinn Fein)
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58. To ask the Minister for Finance the reason less VAT was collected than expected as per the end of May Exchequer statement. [28400/13]

Michael Noonan (Limerick City, Fine Gael)
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VAT receipts to end-May, at €4,994 million, were €117 million (2.3%) below profile and €15 million (0.3%) up year-on-year. The Revenue Commissioners have made my Department aware that the shortfall recorded in the first five months of the year is largely attributable to receipts from VAT on imports, and not VAT internal receipts, which are more closely related to domestic economic activity. I would like to assure the Deputy that my Department is continuing to monitor the situation closely.

Pearse Doherty (Donegal South West, Sinn Fein)
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59. To ask the Minister for Finance the reason less income tax was collected than expected as per the end of May Exchequer statement. [28401/13]

Michael Noonan (Limerick City, Fine Gael)
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Income tax receipts to end-May, at €6,122 million, were €55 million (0.9%) below profile and €125 million up year-on-year. Income tax receipts in the month were basically on target, recording a small surplus of €4 million (0.3%) against a target of €1,075 million. As the Deputy may be aware, Income Tax comprises of a number of individual sub-heads, including PAYE and non-PAYE, which includes Schedule D (paid by farmers and the self-employed), as well as other relatively minor sources such as DIRT, Withholding Tax and Dividend Withholding Tax.

Of these sub-heads, the primary driver for the cumulative shortfall against profile was the lower than expected DIRT receipts recorded in April last, which is possibly reflective of the lower retail interest rates recorded in the year to date. This was discussed in the end-April 2013 Exchequer Returns information note.