Taxes on Income and Wealth (D51) includes Income tax, Corporation tax, Universal Social Charge (USC) and Capital Gains Tax.
€44.7 billion was raised in taxes on Income, Profits, Wealth and Capital Gains in 2021, a 23% increase on the previous year. This was largely driven by increased income and Corporation taxes. However it should be noted that the Income tax receipts were impacted by the COVID-19 pandemic, with a small reduction in receipts in 2020.
Income tax reached record levels in 2021 at €23.4 billion. This accounted for a quarter (25%) of all taxes generated in the year.
Corporation tax receipts have increased significantly over the last 20 years with a substantial 28% year-on-year increase in 2021.
|Table 5.1 Taxes on Income and Wealth||€million|
|Tax Name||ESA2010 Code||1995||2000||2005||2010||2015||2019||2020||2021|
|Income tax - universal social charge||D51||-||-||-||-||4,196||3,848||3,847||4,411|
|Capital gains tax||D51||56||774||1,982||345||669||1,072||952||1,645|
|Levies under the petroleum & mineral development acts||D51||4||2||-||7||4||-||-||-|
|Total taxes on income||D51||7,038||14,538||20,581||18,617||26,599||35,560||36,333||44,737|