Ireland's exchequer figures below expectations for 2013

Ireland's exchequer returns took in over 37.8 billion euros (about 51 billion U.S. dollars) in tax last year, 144 million euros behind target but 1.16 billion euros higher than in 2012, the Department of Finance said Friday. In its end of year statement, the department said there was an exchequer deficit of 11.5 billion euros in 2013, 3.4 billion euros lower than the previous year and ahead of target set out as part of the IMF/EU bailout program. The corporation tax take was 3.3 percent ahead of target at 4.27 billion euros, while stamp duties were 13.5 percent above profile at 1.34 billion euros. Revenues from the local property tax were also higher than expected by the end of December, standing at 318 million euros compared to an expected 250 million euros. However, income tax was slightly lower than expected at 15.75 billion euros, while value-added tax was 2.1 percent behind target at 10.33 billion euros. Excise duties also came in behind profile, with a tax take of 4.89 billion euros compared to an expected 4.92 billion euros. (1 U.S. dollar = 0.73 euros)