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Update on End Q1 Exchequer Retuirns

The Central Bank has informed the Department of a discrepancy in the Exchequer returns.

The overall level of tax collected is unchanged. In relation to March 2014, €101 million was classified as VAT which should have been classified as income tax.

The Department, the Revenue Commissioners and the Central Bank are currently examining the issue and a revised Exchequer statement will issue in due course.