Ireland’s 2022 Surplus Highlights Corporate Tax Vulnerability

Ireland recorded an exchequer surplus of €5 billion ($5.3 billion) in 2022, though that was largely dependent on transitory corporate tax receipts, the Department of Finance said.

• Total tax revenue of €83.1b was up about 40% vs pre-pandemic, with half of this amount due to corporation tax
• Corporation tax receipts of €22.6b in 2022 were up almost 50% from a year earlier, exceeding VAT receipts of €18.6b to become the second-largest source of tax revenue for the first time ever
• Income tax receipts rose 15% from 2021 to €30.7 billion amid a recovery in post-pandemic employment
• Excluding the impact of ...