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Taxes on Products

Taxes on Products

Online ISSN: 2565-5590
CSO statistical publication, , 11am

Value Added Tax (VAT) is the main element of the taxes on products (D.21) category, representing 63% of D.21 in 2021. In 2021 €16.6 billion in VAT revenue was generated, compared to €3.7 billion in 1995. VAT revenue has been steadily increasing over the years with the exception the global financial crisis and, more recently, the impact of COVID-19 pandemic restrictions on businesses and society.

Excise duty is the next largest category of D.21 – representing 24% of D.21 in 2021. There was €6 billion in excise receipts in 2021 compared to €2.6 billion in 1995. 34% of Excise duty is from alcohol and tobacco products with 25% from hydrocarbon products (i.e. petrol and diesel).

Taxes on products also include Stamp duty (€2 billion in 2021), Customs duties (€519 million in 2021) and Other Taxes which includes the Risk Equalisation Fund and National Lottery Surplus.

Figure 3.1 shows the main tax heads over time. There were some notable events over the period which are reflected by changes in the tax revenue. In 2008 there was a notable decrease in revenues of VAT, stamp duty and excise duty, this period coincides with the financial crisis. VAT was also impacted by the COVID-19 pandemic in 2020. 

Show Table: Table 3.1 Taxes on Products

VATExciseStamp DutyCustom DutyOther Taxes
19953735.572677.32273186687359.547014241382241.61414.0022004560899
19964192.6752925.84221726742421.21580969673620316.0560563966865
19974837.7033190.26644183838575.46465343260921518.8815854965438
19985589.3873576.30617956128696.74774045983719321.166742
19996400.753994.8962192279939.869846708625180.21320.549012
20007642.508313279944474.129790010721089.85428485812207.7608930829751.927882
20017995.534266.887418627571222.54165.44566384446231.514722
20029133.774619.3955361140.18133.78643.100991
20039807.884766.77591664.4136.8645.949406
200410986.095094.6662069.65174.3549.760418
200512373.295437.030782558.38226.19953.236174
200613745.565712.8973659.02254.7556.947935
200714355.376138.9513219.099272.769.286092
200813084.425403.7981768.4245.18108.030837
200910324.474878.01222222222969.6208.14118.736
201010067.174871.69976.55228.91164.25117
20119755.14866.37931.46239.94152.245525
201210219.264786.021949.94242.12143.672171
201310371.945023.97775.34246.91579.206339
201411527.485189.51780.15274.7755.577915
2015118315499.01974.09326.671021.838734
201612602.525807.561031.58310.561133.33449
201713060.013665696208.651035.47334.291088.338819
201814148.79197435531.361301.79325.221142.031033
201915270.994505616078.261358.16342.371195.72621
202012753.412163735549.261358.243995272.171202.2742039765
202116603.87123945954.761958.696005518.941271.7502014