The Exchequer collected a record €83.1bn in tax last year, according to figures published by the Dept of Finance. The figures show that for 2022, there was an Exchequer surplus in the public finances of €5bn
The increase is put down to higher levels of corporation tax, income tax and VAT.This compares to a deficit in 2021 of €7.4 billion.
According to the Department of Finance, this puts the general Government balance on course to record a surplus of €5.2 billion. However, if 'windfall' corporation tax receipts were excluded, there would be a deficit of €5.25 billion. These figures will be finalised later this year. The figures also show a record amount of corporation tax collected of €22.6 billion, up €7.3 billion on 2021. Corporation tax is now the Exchequer's second largest source of taxation.
Income tax came in at €30.7 billion, up just over €4 billion on 2021 while VAT came in at €18.6 billion, up €3.2 billion on 2021.
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