Ireland's Tax Statistics 2023

Value Added Tax (VAT) made up more than two-thirds of the taxes on products (D21) category in 2023. At €20 billion in 2023, VAT revenue increased by €1 billion compared with 2022. VAT revenue has been steadily increasing over the years with the exception of the global financial crisis and, in 2021, 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 2023. Excise receipts were €0.2 billion higher compared with 2022; the increase is due mainly to increased revenues from excises on VRT, carbon tax and excise on hydrocarbon products. For the third year in a row there has been a decrease in the revenues from excises on tobacco and alcohol products. Alcohol and tobacco products make up 40% of Excise duty, with 28% coming from hydrocarbon products (i.e. petrol and diesel).

Taxes on products also include stamp duty (€1.7 billion in 2023), customs duties (€0.6 billion in 2023), 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.