Revenue increases tax take for fifth year running

2015 delivered the second highest figure in the history of the State...

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The Revenue Commissioners collected €45.79 billion from Irish taxpayers in 2015, according to Revenue's Annual Report published today. 

This represented a 10.6% increase on 2014 and the fifth successive annual increase in returns to the Exchequer.

It was also the second highest figure for net receipts in the history of the State – only 2007, at the height of the boom, earned more, with €47.5 billion.

Nearly all taxes and duties enjoyed substantial increases.

Corporation tax was up 49%, capital gains tax was up 28% and VAT saw a 7% increase.

The amount of non-compliant people was also up, however.

Niall Cody, Chairman of the Revenue Commissioners, noted:

"In 2015, our staff conducted over 460,000 compliance interventions which yielded over €640 million in tax, interest and penalties – an increase of more than 5% on 2014".

In the report, Revenue stated that they were going to step up their investigations into the use of offshore locations for tax avoidance reasons and that it would take the same approach with data from the Panama Papers.

In 2015, Revenue raised €60 million from investigations of this nature.