Revenue recently published its Annual Report for 2021. In an exceptional year where the trading environment was fundamentally altered as a result of Brexit and COVID-19, Revenue collected a record amount of tax and duty, with gross receipts totalling €96.6 billion. Key information on Local Property Tax, COVID-19 supports, and the new Compliance Intervention Framework are included as well as several other reports on VAT, income tax and corporation tax receipts.
Commenting on the publication Revenue Chairman, Niall Cody, said:
“Revenue collected total gross receipts of almost €96.6 billion, including €17.5 billion in non-Exchequer receipts collected on behalf of other Government Departments, Agencies and EU Member States. Net Exchequer receipts of €67.5 billion were up by 20% or €11.3 billion on 2020.
Despite the challenges and uncertainty of ever-changing and, in some instances, rapidly changing business environments, timely compliance rates remained strong across all taxes for 2021. This is evidence of the recognised importance of timely tax and duty compliance by society generally. It also reflects the positive engagement by businesses, individual taxpayers and tax practitioners during the year and their contribution to a strong culture of voluntary compliance, despite the difficulties many faced.”
Read the full report for more information.