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Press Release

Peter Vale comments on the Tax Statistics for 2022

Today’s Tax Statistics for 2022 show the resilience of the Irish economy in the post COVID period, with total tax receipts up 17% over 2021.

While both VAT and income tax receipts saw strong growth in the period, corporation tax was once again the standout performer.

In 1995, corporation tax receipts represented 8% of our total tax revenues. By 2022 this number had risen to 22%, a remarkable performance and made all the more remarkable given how much other taxes increased in the same period.

Data for 2021 shows that less than 1% of companies paid more than 85% of all corporation tax returns. This concentration of receipts in such a small cohort of companies remains a concern. The lack of “churn” in the top tax paying companies is a further concern.

While today’s statistics show that 2022 was a strong year for the Exchequer, the recent drop in corporation tax receipts reinforces the need for a broader tax base.

Read the CSO's full publication on 'Ireland's Tax Statistics 2022'