Ireland's Tax Statistics 2022

Value Added Tax (VAT) made up more than two-thirds of the taxes on products (D21) category in 2022. At €19.3 billion in 2022, VAT revenue increased by €3 billion compared with 2021. VAT revenue has been steadily increasing over the years with the exception of the global financial crisis and, in 2020, the impact of COVID-19 pandemic restrictions on businesses and society.

Excise duty is the next largest category of D21 – representing 20% of D21 in 2022. Excise receipts were €0.3 billion lower compared with 2021; the decrease is due mainly to Government reductions in excise on hydrocarbon products as a response to the cost of living pressures. Alcohol and tobacco products make up 35% of Excise duty, with 21% coming from hydrocarbon products (i.e. petrol and diesel).

Taxes on products also include stamp duty (€1.7 billion in 2022), customs duties (€0.6 billion in 2022), and other taxes on products, such as the Risk Equalisation Fund and National Lottery Surplus.

Figure 3.1 shows the main tax heads over time. There were some notable events over the period which are reflected by changes in tax revenue. The slowdown in Stamp duty can be observed in 2007, followed in 2008 by a further decrease in Stamp duty and extending to falls in VAT and Excise duty - this period coincides with the onset of the financial crisis. VAT was also impacted by the COVID-19 pandemic in 2020, however recovered strongly in 2021 and grew again as already mentioned.