The figures were released by the Department of Finance this afternoon.
A TOTAL of €83.1 billion in tax was collected by the Exchequer last year, new figures published by the Department of Finance show.As tax revenues grew last year, an Exchequer surplus of €5 billion was recorded. This compares to a deficit of €7.4 billion in 2021.
“This reflects a number of factors, including robust income tax and VAT receipts, both of which reflect the strength of the post-pandemic recovery in demand and employment. The phasing out of Covid-related expenditure is another reason for the surplus last year,” McGrath said. “This is why Government has acted to mitigate this vulnerability by transferring part of this windfall to the National Reserve Fund to rebuild our fiscal resources.”
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